Q3 2017 EPS Estimates for Fate Therapeutics, Inc. (FATE) Lifted by Wedbush
Fate Therapeutics, Inc. (NASDAQ:FATE) – Analysts at Wedbush boosted their Q3 2017 earnings per share estimates for Fate Therapeutics in a research note issued to investors on Tuesday. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings per share of ($0.24) for the quarter, up from their prior estimate of ($0.26). Wedbush has a “Outperform” rating and a $7.00 price objective on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2017 earnings at ($0.25) EPS, FY2017 earnings at ($0.97) EPS, Q1 2018 earnings at ($0.18) EPS, Q2 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.28) EPS, Q4 2018 earnings at ($0.32) EPS, FY2018 earnings at ($1.01) EPS, FY2019 earnings at ($0.68) EPS, FY2020 earnings at $0.14 EPS and FY2021 earnings at $2.38 EPS.
Separately, ValuEngine downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.25.
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Fate Therapeutics (NASDAQ:FATE) opened at 3.14 on Thursday. The firm has a 50-day moving average price of $3.05 and a 200-day moving average price of $3.69. The stock’s market cap is $130.00 million. Fate Therapeutics has a 12 month low of $1.80 and a 12 month high of $5.68.
Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.01. Fate Therapeutics had a negative return on equity of 67.01% and a negative net margin of 887.68%. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million.
Several hedge funds and other institutional investors have recently made changes to their positions in FATE. Bank of New York Mellon Corp boosted its position in shares of Fate Therapeutics by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 59,510 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 952 shares during the last quarter. KCG Holdings Inc. boosted its position in shares of Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,764 shares during the last quarter. Creative Planning boosted its position in shares of Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 6,000 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Fate Therapeutics by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 209,900 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 21,900 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of Fate Therapeutics during the first quarter valued at about $145,000. Hedge funds and other institutional investors own 61.15% of the company’s stock.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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