FibroGen (NASDAQ:FGEN) Releases Quarterly Earnings Results, Beats Expectations By $2.40 EPS

FibroGen (NASDAQ:FGEN) announced its quarterly earnings data on Monday. The biopharmaceutical company reported ($1.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.01) by $2.40, Zacks reports. The firm had revenue of $1.08 million for the quarter, compared to analyst estimates of $1.64 million.

FibroGen Stock Performance

Shares of FGEN traded down $1.06 during trading hours on Tuesday, reaching $9.94. The stock had a trading volume of 134,094 shares, compared to its average volume of 69,056. FibroGen has a 12 month low of $4.50 and a 12 month high of $21.94. The stock has a market capitalization of $40.20 million, a PE ratio of -26.16 and a beta of 0.75. The company’s 50-day moving average is $11.41 and its two-hundred day moving average is $9.04.

Hedge Funds Weigh In On FibroGen

An institutional investor recently raised its position in FibroGen stock. Vanguard Group Inc. grew its position in shares of FibroGen, Inc (NASDAQ:FGEN) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,244 shares of the biopharmaceutical company’s stock after purchasing an additional 6,204 shares during the quarter. Vanguard Group Inc. owned approximately 4.56% of FibroGen worth $2,257,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 72.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FGEN. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of FibroGen in a report on Wednesday, September 24th. Weiss Ratings restated a “sell (e+)” rating on shares of FibroGen in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded FibroGen from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.00.

FibroGen Company Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.