ONCT - Fibrogen hurt by downgrades Emergent earns a bull despite vaccine mix-up and more in today's analyst action

Today pre-market analyst action includes downgrades on Fibrogen and ACADIA due to recent FDA decisions on companies’ new drug applications.Fibrogen slips as analysts weigh in on safety updateFibrogen (FGEN) shares plunged in the post-market yesterday in reaction to clarification made by the company on previous disclosures on safety analyses from the roxadustat Phase 3 program.The news of a tentative date set by the FDA for an AdCom meeting on July 15 to review its marketing application for Roxadustat has not addressed the investor concerns with shares losing ~29.7% in the pre-market today.Mizuho has downgraded the stock to neutral from buy with the price target cut by ~59.7% to $29.00 per share indicating ~16.3% downside the previous close.Noting that the upcoming AdCom meeting as a key ‘de-risking’ event for the company, the analyst Difei Yang highlights the uncertainty of the timeline for approval after the clarification issued by the company yesterday.HC Wainwright removes the price target of

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Fibrogen hurt by downgrades, Emergent earns a bull despite vaccine mix-up and more in today’s analyst action