FibroGen Receives a Buy from Leerink SwannBy Jason Carr
“We continue to be bullish about the potential of roxadustat, and the company’s improving financial position validates our outlook. We are assuming coverage of FibroGen, Inc.”
According to TipRanks.com, Porges is ranked 0 out of 5 stars with an average return of -6.1% and a 11.8% success rate. Porges covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Theravance Biopharma, and Johnson & Johnson.
Currently, the analyst consensus on FibroGen is Moderate Buy and the average price target is $39, representing a 122.9% upside.
In a report released today, Credit Suisse also reiterated a Buy rating on the stock with a $39 price target.
Based on FibroGen’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $89.28 million and quarterly net profit of $24.32 million. In comparison, last year the company earned revenue of $19.54 million and had a GAAP net loss of -$45,098,000.
Based on the recent corporate insider activity of 70 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, Peony Yu, the VP, Clinical Development of FGEN bought 4,700 shares for a total of $23,065.
FibroGen, Inc. operates as a research-based biopharmaceutical company, which 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.