Mizuho Securities analyst Difei Yang reiterated a Buy rating on FibroGen (FGEN) today. The company’s shares closed yesterday at $45.67.
Yang commented:
“We lower our PT from $74 to $65 as our base-case scenario was not met (we had expected superiority in the DD setting and non-inferiority in NDD). We would be buyers if the market opens weak.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 12.1% and a 43.9% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for FibroGen with a $70.33 average price target.
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Based on FibroGen’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $20.95 million. In comparison, last year the company had a GAAP net loss of $41.4 million.
Based on the recent corporate insider activity of 102 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FGEN in relation to earlier this year. Earlier this month, Pat Controneo, the SVP, Finance and CFO of FGEN bought 7,000 shares for a total of $20,300.
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FibroGen, Inc. engages in the discovery, development, and commercialization of therapeutics. It focuses on hypoxia-inducible factor and connective tissue growth factor biology to develop innovative medicines for the treatment of anemia, fibrotic disease, and cancer.
