UPDATE: Raymond James Starts FibroGen (FGEN) at Underperform
Get Alerts FGEN Hot Sheet
Rating Summary:
3 Buy, 9 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Raymond James analyst Danielle Brill initiates coverage on FibroGen (NASDAQ: FGEN) with a Underperform rating.
The analyst comments "Bottom line here is that we see a significant amount of risk to approval that we believe the Street is not fully appreciating. We also think the risk/reward is skewed to the downside, because even if Roxa is approved for NDD, we expect restrictive labeling (BBW, REMS) which should impact the launch trajectory and cap upside. Considering this set-up, we think FGEN will underperform relative to the rest of our coverage over the next 6-12 months. We could get more constructive on the name, however, if (1) Roxa is approved in NDD with a clean label (no BBW), and/or (2) commercial launch gets off to a strong start and surpasses our modest expectations."
For an analyst ratings summary and ratings history on FibroGen click here. For more ratings news on FibroGen click here.
Shares of FibroGen closed at $42.45 yesterday.
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