Credit Suisse Upgrades FibroGen (FGEN) to Outperform

Credit Suisse upgraded FibroGen (NASDAQ: FGEN) from Neutral to Outperform with a price target of $40.00.

Analyst K. MacKay commented, "We have reevaluated our FGEN model following conversations with FGEN mgmt. We have decreased our expenses to be largely in-line with mgmt. guidance on '15, '16 and '17 cash burn rates. As a result we note FGEN could reach marketing of roxadustat, FG-3019 and profitability without the need for additional dilutive financing."

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 $15.08 yesterday.

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