In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on FibroGen (NASDAQ: FGEN), with a price target of $74. The company’s shares closed yesterday at $62.95.
Yang observed:
“We see the roxadustat program as highly de-risked and commercial risks are primarily born by partners.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 22.8% and a 54.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on FibroGen is a Moderate Buy with an average price target of $74.
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Based on FibroGen’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $23.42 million. In comparison, last year the company had a GAAP net loss of $33.18 million.
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FibroGen, Inc. engages in the discovery, development, and commercialization of therapeutics to treat unmet medical needs. It focuses on fibrosis and hypoxia-induced factor biology to generate programs targeting therapeutic areas. The company was founded by Thomas B. Neff on September 29, 1993 and is headquartered in San Francisco, CA.
