FibroGen (FGEN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Matthew Keller from H.C. Wainwright reiterated a Buy rating on the stock and has a $10.00 price target.
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Matthew Keller has given his Buy rating due to a combination of factors that highlight FibroGen’s strategic and financial positioning. The recent announcement of FibroGen’s agreement to sell its China rights for roxadustat to AstraZeneca, expected to bring in approximately $160 million, will significantly bolster the company’s cash reserves. This transaction is anticipated to extend FibroGen’s cash runway into 2027, providing a solid financial foundation amidst challenging macroeconomic conditions.
Additionally, FibroGen’s strategic focus on its U.S. development pipeline, particularly for roxadustat’s use in low-risk MDS (LR-MDS) and other in-house developed assets like FG-3246 and FG-3180, indicates a targeted approach to growth. The company is preparing for key clinical developments, including Phase 2 trials for FG-3246 and advancing roxadustat for potential U.S. approval in LR-MDS. These factors collectively underscore FibroGen’s potential for future growth and justify the Buy rating from Keller.
According to TipRanks, Keller is a 2-star analyst with an average return of 1.2% and a 50.00% success rate.