Mizuho Securities analyst Difei Yang maintained a Buy rating on FibroGen (FGEN) today and set a price target of $74. The company’s shares closed on Friday at $39.55, close to its 52-week low of $37.27.
Yang commented:
“We believe efficacy data is likely to be a non-event in 4Q18. But we believe MACE will be share-moving. We believe roxadustat can achieve superiority vs. epoetin alfa in the DD patient population, given encouraging mortality rate observed in recent studies vs. much higher historical rates with epoetin alfa. In NDD, we believe the bar is higher (comparing to placebo) but showing non-inferiority is possible (more below).”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 14.9% and a 42.4% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for FibroGen with a $79 average price target.
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The company has a one-year high of $68.55 and a one-year low of $37.27. Currently, FibroGen has an average volume of 595.3K.
Based on the recent corporate insider activity of 119 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. Last month, James Schoeneck, a Director at FGEN bought 24,000 shares for a total of $333,240.
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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.
