UPDATE: Jefferies Downgrades FibroGen (FGEN) to Hold
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Jefferies analyst Michael Yee downgraded FibroGen (NASDAQ: FGEN) from Buy to Hold with a price target of $45.00 (from $75.00).
The analyst comments "FGEN announced an Adcom will now be held for Roxa which means no NT approval and more pushout from 3/20 PDUFA. Math suggests mid-21 Adcom and YE21 decision which pushes everything again. Reimbursement and drug launch debate still a key issue too, putting answers into 2022 and past 12mo horizon. Stock range-bound until this all plays out. Risk went up and timelines longer. EU decision is mid-21 and still in play."
Shares of FibroGen closed at $50.53 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesJefferies & Co, PDUFA
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