Q3 2017 Earnings Estimate for FibroGen, Inc (FGEN) Issued By Jefferies Group
FibroGen, Inc (NASDAQ:FGEN) – Research analysts at Jefferies Group cut their Q3 2017 earnings estimates for shares of FibroGen in a note issued to investors on Monday. Jefferies Group analyst M. Yee now anticipates that the biopharmaceutical company will earn ($0.49) per share for the quarter, down from their prior estimate of ($0.42). Jefferies Group currently has a “Buy” rating and a $75.00 target price on the stock. Jefferies Group also issued estimates for FibroGen’s Q4 2017 earnings at ($0.49) EPS, FY2017 earnings at ($1.98) EPS and FY2018 earnings at ($0.91) EPS.
FGEN has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) downgraded shares of FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Friday, July 21st. BidaskClub downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of FibroGen from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Citigroup Inc. restated a “buy” rating and set a $48.00 target price on shares of FibroGen in a report on Monday, June 26th. Finally, Stifel Nicolaus boosted their target price on shares of FibroGen from $38.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.17.
Shares of FibroGen (NASDAQ FGEN) opened at 43.65 on Thursday. The company’s market capitalization is $3.05 billion. FibroGen has a 12-month low of $15.60 and a 12-month high of $51.70. The company’s 50 day moving average is $34.38 and its 200 day moving average is $28.07.
FibroGen (NASDAQ:FGEN) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.01. The business had revenue of $29 million during the quarter, compared to the consensus estimate of $34.80 million. FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%.
In related news, CEO Thomas B. Neff sold 38,636 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $26.21, for a total transaction of $1,012,649.56. Following the transaction, the chief executive officer now directly owns 3,345,941 shares in the company, valued at $87,697,113.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Pat Cotroneo sold 2,891 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $28.75, for a total transaction of $83,116.25. Following the transaction, the vice president now owns 163,366 shares in the company, valued at $4,696,772.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 404,974 shares of company stock worth $12,515,438. 14.90% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in FibroGen by 29,724.1% in the first quarter. BlackRock Inc. now owns 4,454,819 shares of the biopharmaceutical company’s stock worth $109,811,000 after buying an additional 4,439,882 shares during the period. Norges Bank bought a new position in FibroGen during the fourth quarter worth approximately $8,480,000. Vanguard Group Inc. boosted its position in FibroGen by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,047,018 shares of the biopharmaceutical company’s stock worth $124,409,000 after buying an additional 392,778 shares during the period. Bogle Investment Management L P DE boosted its position in FibroGen by 215.8% in the first quarter. Bogle Investment Management L P DE now owns 329,371 shares of the biopharmaceutical company’s stock worth $8,118,000 after buying an additional 225,083 shares during the period. Finally, Prudential Financial Inc. boosted its position in FibroGen by 95.2% in the first quarter. Prudential Financial Inc. now owns 409,350 shares of the biopharmaceutical company’s stock worth $10,090,000 after buying an additional 199,670 shares during the period. Institutional investors and hedge funds own 43.45% of the company’s stock.
FibroGen, Inc is a science-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200.
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