FibroGen (NASDAQ:FGEN) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.15), Briefing.com reports. The business had revenue of $29.00 million during the quarter, compared to analyst estimates of $36.48 million. FibroGen had a negative return on equity of 22.60% and a negative net margin of 85.59%. FibroGen’s quarterly revenue was down 28.6% on a year-over-year basis.
NASDAQ:FGEN traded down $1.42 during trading hours on Friday, hitting $42.06. 515,088 shares of the stock were exchanged, compared to its average volume of 795,988. FibroGen has a twelve month low of $38.52 and a twelve month high of $68.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.95 and a current ratio of 7.95. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -24.31 and a beta of 2.15.
FGEN has been the topic of several research reports. Citigroup downgraded FibroGen from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a report on Wednesday, August 8th. ValuEngine downgraded FibroGen from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Leerink Swann set a $82.00 price objective on FibroGen and gave the stock a “buy” rating in a report on Tuesday, September 11th. BidaskClub downgraded FibroGen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Mizuho reaffirmed a “buy” rating and set a $74.00 price objective on shares of FibroGen in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $72.25.
In other FibroGen news, SVP Pat Cotroneo sold 1,011 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $57.35, for a total transaction of $57,980.85. Following the transaction, the senior vice president now owns 220,422 shares of the company’s stock, valued at approximately $12,641,201.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kalevi Kurkijarvi sold 4,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $60.28, for a total value of $241,120.00. Following the transaction, the director now directly owns 27,700 shares in the company, valued at approximately $1,669,756. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,673 shares of company stock worth $12,905,922. Company insiders own 8.96% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Raymond James & Associates raised its position in shares of FibroGen by 14.2% during the 2nd quarter. Raymond James & Associates now owns 13,174 shares of the biopharmaceutical company’s stock valued at $825,000 after acquiring an additional 1,640 shares during the last quarter. Hillhouse Capital Management Ltd. raised its position in shares of FibroGen by 3.2% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 2,686,196 shares of the biopharmaceutical company’s stock valued at $168,156,000 after acquiring an additional 83,850 shares during the last quarter. Emerald Advisers Inc. PA bought a new stake in shares of FibroGen during the 2nd quarter valued at $22,954,000. Fox Run Management L.L.C. bought a new stake in shares of FibroGen during the 3rd quarter valued at $486,000. Finally, Rhenman & Partners Asset Management AB raised its position in shares of FibroGen by 4.9% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 251,190 shares of the biopharmaceutical company’s stock valued at $15,260,000 after acquiring an additional 11,643 shares during the last quarter. Institutional investors own 76.69% of the company’s stock.
FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.
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