William Blair analyst Andy Hsieh has reiterated their neutral stance on FGEN stock, giving a Hold rating on August 8.
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Andy Hsieh has given his Hold rating due to a combination of factors related to FibroGen’s recent developments and financial outlook. The company has made progress with its drug roxadustat, having completed a Type C meeting with the FDA and agreeing on a pivotal Phase III trial design for treating anemia in lower-risk myelodysplastic syndromes. However, the trial is still in the planning stages, with the protocol expected to be filed later in the year, indicating that significant milestones are yet to be achieved.
Additionally, FibroGen’s financial position has improved with the expected increase in net cash from the sale of FibroGen China to AstraZeneca, extending the company’s cash runway into 2028. While these developments are positive, the ongoing nature of clinical trials and the need for further data to elucidate clinical outcomes contribute to the Hold rating, as the stock’s potential for significant short-term gains remains uncertain.
In another report released on August 8, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $8.00 price target.
Based on the recent corporate insider activity of 14 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.