FibroGen (FGEN) Announces Earnings Results, Misses Expectations By $0.15 EPS

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FibroGen (NASDAQ:FGEN) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.15), Briefing.com reports. The firm had revenue of $29.00 million during the quarter, compared to analysts’ expectations of $36.48 million. FibroGen had a negative net margin of 85.59% and a negative return on equity of 22.60%. The company’s quarterly revenue was down 28.6% compared to the same quarter last year.

NASDAQ FGEN traded down $1.42 during trading hours on Friday, reaching $42.06. The stock had a trading volume of 515,088 shares, compared to its average volume of 795,988. The firm has a market cap of $3.65 billion, a P/E ratio of -24.31 and a beta of 2.15. FibroGen has a 52-week low of $38.52 and a 52-week high of $68.55. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.19.

A number of equities research analysts recently commented on FGEN shares. Zacks Investment Research upgraded FibroGen from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, October 17th. Leerink Swann set a $84.00 target price on FibroGen and gave the company a “buy” rating in a research report on Monday, October 15th. BidaskClub lowered FibroGen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. ValuEngine lowered FibroGen from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 17th. Finally, Mizuho reiterated a “buy” rating and issued a $74.00 target price on shares of FibroGen in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $72.25.

In related news, Director Kalevi Kurkijarvi sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 27,700 shares in the company, valued at $1,669,756. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Toshinari Tamura sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $60.65, for a total value of $727,800.00. Following the completion of the sale, the director now owns 63,700 shares in the company, valued at approximately $3,863,405. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,673 shares of company stock worth $12,905,922. 8.96% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Trexquant Investment LP acquired a new position in FibroGen in the third quarter valued at approximately $201,000. FMR LLC lifted its holdings in FibroGen by 6.9% in the third quarter. FMR LLC now owns 8,981,236 shares of the biopharmaceutical company’s stock valued at $545,610,000 after acquiring an additional 576,417 shares during the period. BlackRock Inc. lifted its holdings in FibroGen by 1.9% in the third quarter. BlackRock Inc. now owns 6,301,117 shares of the biopharmaceutical company’s stock valued at $382,796,000 after acquiring an additional 118,460 shares during the period. Jennison Associates LLC lifted its holdings in FibroGen by 0.4% in the third quarter. Jennison Associates LLC now owns 528,568 shares of the biopharmaceutical company’s stock valued at $32,111,000 after acquiring an additional 2,225 shares during the period. Finally, Swiss National Bank lifted its holdings in FibroGen by 1.2% in the third quarter. Swiss National Bank now owns 131,100 shares of the biopharmaceutical company’s stock valued at $7,964,000 after acquiring an additional 1,600 shares during the period. 76.69% of the stock is owned by institutional investors.

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About FibroGen

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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Earnings History for FibroGen (NASDAQ:FGEN)

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