Fate Therapeutics Coverage Initiated by Analysts at Wedbush (FATE)
Research analysts at Wedbush initiated coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a report released on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $14.00 price target on the stock. Wedbush’s target price suggests a potential upside of 103.78% from the company’s current price.
The analysts wrote, “FATE is developing modified hematopoietic stem cells (HSCs) to improve outcomes in allogeneic transplants. These modified HSCs could improve outcomes in hematological cancers and lysosomal storage diseases (LSDs), where stem cell transplants are the only potentially curative therapy. FATE’s lead product candidate, ProHema, is comprised of ex vivo optimized HSCs derived from umbilical cord blood. A Phase Ib study of ProHema in patients undergoing stem cell transplants showed an improvement of 3 days in median engraftment time, relative to historical controls, and patients also experienced better outcomes in various secondary measures.”
Separately, analysts at BMO Capital Markets initiated coverage on shares of Fate Therapeutics in a research note to investors on Monday. They set an “outperform” rating and a $14.00 price target on the stock.
Shares of Fate Therapeutics (NASDAQ:FATE) traded up 1.89% on Monday, hitting $7.00. 51,860 shares of the company’s stock traded hands. The stock has a 50-day moving average of $0. and a 200-day moving average of $0.. The company’s market cap is $134.1 million.
Fate Therapeutics, Inc, is a clinical-stage biopharmaceutical company engaged in the discovery and development of pharmacologic modulators of adult stem cells to treat orphan diseases, including hematologic malignancies, lysosomal storage disorders and muscular dystrophies.
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