Research Analysts Set Expectations for FibroGen, Inc’s FY2017 Earnings (FGEN)
FibroGen, Inc (NASDAQ:FGEN) – Equities research analysts at Jefferies Group lifted their FY2017 EPS estimates for shares of FibroGen in a research report issued to clients and investors on Wednesday. Jefferies Group analyst M. Yee now forecasts that the biopharmaceutical company will post earnings per share of ($1.75) for the year, up from their prior estimate of ($1.98). Jefferies Group has a “Buy” rating and a $75.00 price objective on the stock. Jefferies Group also issued estimates for FibroGen’s Q4 2017 earnings at ($0.29) EPS, Q1 2018 earnings at ($0.48) EPS, Q2 2018 earnings at ($0.51) EPS, Q3 2018 earnings at ($0.53) EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at ($0.86) EPS.
Several other research analysts also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) downgraded shares of FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Friday, July 21st. Mizuho started coverage on shares of FibroGen in a research note on Wednesday, October 4th. They issued a “neutral” rating and a $61.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of FibroGen in a research note on Thursday, September 14th. BidaskClub downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Citigroup Inc. upped their target price on shares of FibroGen from $48.00 to $65.00 and gave the stock a “top pick” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $65.67.
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FibroGen (NASDAQ FGEN) opened at $46.20 on Monday. FibroGen has a 52 week low of $19.25 and a 52 week high of $60.15. The company has a current ratio of 10.83, a quick ratio of 10.83 and a debt-to-equity ratio of 0.16.
A number of hedge funds have recently made changes to their positions in FGEN. Quantbot Technologies LP purchased a new stake in FibroGen during the second quarter valued at approximately $128,000. Ameritas Investment Partners Inc. increased its holdings in FibroGen by 15.4% during the second quarter. Ameritas Investment Partners Inc. now owns 5,218 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 696 shares during the last quarter. SG Americas Securities LLC increased its holdings in FibroGen by 6.5% during the second quarter. SG Americas Securities LLC now owns 6,747 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 412 shares during the last quarter. Amalgamated Bank purchased a new stake in FibroGen during the second quarter valued at approximately $237,000. Finally, BNP Paribas Arbitrage SA increased its holdings in FibroGen by 589.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,401 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 6,327 shares during the last quarter. 46.93% of the stock is owned by institutional investors and hedge funds.
In other FibroGen news, VP Pat Cotroneo sold 2,851 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $49.45, for a total transaction of $140,981.95. Following the completion of the sale, the vice president now directly owns 157,405 shares of the company’s stock, valued at $7,783,677.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kalevi Kurkijarvi sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $40.74, for a total transaction of $81,480.00. Following the sale, the director now directly owns 30,000 shares of the company’s stock, valued at $1,222,200. The disclosure for this sale can be found here. Insiders have sold 428,118 shares of company stock valued at $22,355,896 over the last three months. 14.90% of the stock is owned by corporate insiders.
FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.
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