FibroGen (NASDAQ:FGEN) is up 6.3% on healthy volume after a positive mention at SVB Leerink, which sees revenue upside coming from the latest word on China’s National Reimbursement Drug List.
The NRDL price for FibroGen’s roxadustat is likely to come in at 95.5 yuan/tablet, translating to about $177/month and $2,128/year — higher than analyst Geoffrey Porges’ expected $1,600/year, he says.
That higher price would likely mean a boost to the company’s value of $5/share, he writes.
Leerink has an Outperform rating and a Street-high price target of $84, currently implying 95% upside.
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