In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on FibroGen, with a price target of $74. The company’s shares closed yesterday at $43.48, close to its 52-week low of $38.52.
“We do not see earnings as the most meaningful indicator of value for an early-stage biotech. Importantly, Fibrogen is on track to report U.S. phase 3 data from roxadustat by the end of the year and management is currently targeting March/April 2019 for completion of the MACE analysis. An NDA filing would follow and is expected to be competed by the end of June 2019. We expect the upcoming readouts will be an important event and we remain confident ahead of the results given positive data reported in phase 3 trials of roxadustat in Japanese and Chinese patients.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.7% and a 48.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
FibroGen has an analyst consensus of Moderate Buy, with a price target consensus of $79.
Seres Therapeutics (MCRB)
Oppenheimer analyst Mark Breidenbach reiterated a Buy rating on Seres Therapeutics today and set a price target of $16. The company’s shares closed yesterday at $8.88.
“Thursday, Seres reported 3Q results and reviewed recent progress. With the appointment of a new CMO, we see Seres as beginning a decisive pivot away from its prior emphasis on infectious disease in favor of inflammatory disorders and oncology. Enrollment in the pivotal ECOSPOR III trial of SER-109 for recurrent C. difficile infection remains sluggish, in part due to the widespread availability of effective fecal microbiota transplants (FMT). While management hasn’t abandoned its CDI programs, most emphasis is being placed on SERE’s SER-287 product for ulcerative colitis (UC). A streamlined protocol for the planned Ph. 2b trial of SER-287 could initiate by 1Q19. We reiterate our Outperform rating, but adjust our price target to $16 (from $17), reflecting revised development timelines for key programs.”
According to TipRanks.com, Breidenbach is a 3-star analyst with an average return of 4.3% and a 40.5% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Sorrento Therapeutics, and Mustang Bio Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Seres Therapeutics with a $15.33 average price target, representing a 72.6% upside. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $15 price target.
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