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Fly News Breaks for November 12, 2019
FGEN
Nov 12, 2019 | 05:59 EDT
Stifel analyst Adam Walsh recommends buying shares of FibroGen following yesterday's 15% decline to $35.40. The analyst keeps a Buy rating on the name with a $71 price target. Even though FibroGen reported "approvable" MACE data, the shares remain "in a penalty box where we see no fundamental reasons," Walsh tells investors in a research note. The analyst, who believes roxadustat is highly likely to be approved, sees a "significant value mismatch" at current share levels.
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