William Blair Comments on FibroGen, Inc.’s Q3 2024 Earnings (NASDAQ:FGEN)

FibroGen, Inc. (NASDAQ:FGEN) – Stock analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for FibroGen in a research report issued to clients and investors on Wednesday, August 7th. William Blair analyst A. Hsieh now expects that the biopharmaceutical company will post earnings per share of ($0.23) for the quarter, down from their previous forecast of ($0.16). William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for FibroGen’s current full-year earnings is ($1.05) per share. William Blair also issued estimates for FibroGen’s Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at $0.05 EPS and FY2025 earnings at $0.24 EPS.

Separately, StockNews.com assumed coverage on FibroGen in a report on Saturday. They issued a “hold” rating for the company.

FibroGen Stock Down 7.2 %

Shares of FGEN opened at $0.41 on Friday. FibroGen has a 52-week low of $0.33 and a 52-week high of $2.93. The stock has a market cap of $40.68 million, a PE ratio of -0.17 and a beta of 0.71. The firm’s fifty day moving average is $0.96 and its two-hundred day moving average is $1.42.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.09. The company had revenue of $50.64 million for the quarter, compared to analysts’ expectations of $33.00 million. During the same period in the previous year, the business earned ($0.65) earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC purchased a new stake in FibroGen during the first quarter worth about $25,000. Delap Wealth Advisory LLC purchased a new stake in FibroGen during the 1st quarter worth about $27,000. Doheny Asset Management CA purchased a new stake in FibroGen in the 2nd quarter valued at about $48,000. Accel Wealth Management increased its stake in FibroGen by 117.5% during the second quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 51,645 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC purchased a new position in shares of FibroGen in the 2nd quarter worth about $89,000. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FibroGen news, insider Deyaa Adib acquired 22,123 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $1.17 per share, for a total transaction of $25,883.91. Following the acquisition, the insider now owns 82,123 shares in the company, valued at approximately $96,083.91. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.98% of the stock is owned by company insiders.

About FibroGen

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.