Royal Bank Of Canada initiated coverage on shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) in a report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the biotechnology company’s stock.

Several other research analysts have also commented on the company. ValuEngine upgraded Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of Five Prime Therapeutics in a report on Thursday, June 8th. Finally, BidaskClub lowered Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $60.80.

Shares of Five Prime Therapeutics (FPRX) traded down 0.96% during trading on Thursday, reaching $35.11. 161,025 shares of the company traded hands. The stock’s 50 day moving average is $30.54 and its 200 day moving average is $32.41. Five Prime Therapeutics has a 1-year low of $25.97 and a 1-year high of $60.98. The company’s market capitalization is $982.55 million.

Five Prime Therapeutics (NASDAQ:FPRX) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.43). Five Prime Therapeutics had a negative return on equity of 31.78% and a negative net margin of 356.39%. The company had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $8.32 million. During the same quarter in the prior year, the firm earned ($0.49) EPS. The firm’s revenue was down 16.1% on a year-over-year basis. On average, analysts forecast that Five Prime Therapeutics will post ($5.16) EPS for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the stock. Laurion Capital Management LP purchased a new stake in Five Prime Therapeutics in the 1st quarter valued at about $210,000. Creative Planning raised its holdings in Five Prime Therapeutics by 0.8% in the 2nd quarter. Creative Planning now owns 6,744 shares of the biotechnology company’s stock valued at $203,000 after buying an additional 54 shares during the period. Rockefeller Financial Services Inc. purchased a new stake in Five Prime Therapeutics in the 2nd quarter valued at about $210,000. BlueCrest Capital Management Ltd purchased a new stake in Five Prime Therapeutics in the 1st quarter valued at about $254,000. Finally, Tudor Investment Corp ET AL raised its holdings in Five Prime Therapeutics by 56.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 8,033 shares of the biotechnology company’s stock valued at $290,000 after buying an additional 2,910 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

About Five Prime Therapeutics

Five Prime Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include Cabiralizumab (FPA008), which is an antibody that inhibits colony stimulating factor-1 receptor, that it is studying in clinical trials as a monotherapy in pigmented villonodular synovitis, and in multiple cancers in combination with programmed-death 1 immune checkpoint inhibitor, Opdivo; FPA144, which is an antibody that inhibits fibroblast growth factor receptor 2b, that it is initially developing to treat patients with gastric (stomach) cancer and is in a Phase I clinical trial, and FP-1039, which is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors, involved in cancer cell proliferation and new blood vessel formation and is in Phase Ib clinical development to treat patients with malignant pleural mesothelioma.

The Fly

Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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