Fate Therapeutics (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $8.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.55% from the company’s current price.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

Several other analysts also recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $7.00 price target (down from $10.00) on shares of Fate Therapeutics in a research note on Thursday. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Piper Jaffray Companies started coverage on shares of Fate Therapeutics in a research note on Monday, December 18th. They issued an “overweight” rating and a $10.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Wednesday, December 13th. Finally, Raymond James Financial restated a “buy” rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $7.71.

Fate Therapeutics (FATE) traded up $0.19 during trading on Friday, reaching $7.37. 413,633 shares of the company’s stock traded hands, compared to its average volume of 525,577. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 7.21. The company has a market capitalization of $366.05, a P/E ratio of -7.76 and a beta of 1.52. Fate Therapeutics has a 1-year low of $2.52 and a 1-year high of $7.40.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The business had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. Fate Therapeutics’s revenue was up .0% compared to the same quarter last year. analysts predict that Fate Therapeutics will post -0.98 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of Fate Therapeutics by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 6,076,879 shares of the biopharmaceutical company’s stock valued at $15,084,000 after acquiring an additional 751,879 shares during the period. FMR LLC increased its position in shares of Fate Therapeutics by 2.0% in the fourth quarter. FMR LLC now owns 4,391,885 shares of the biopharmaceutical company’s stock valued at $11,024,000 after acquiring an additional 84,400 shares during the period. EcoR1 Capital LLC purchased a new position in shares of Fate Therapeutics in the first quarter valued at about $11,543,000. Redmile Group LLC increased its position in shares of Fate Therapeutics by 14.3% in the fourth quarter. Redmile Group LLC now owns 2,371,001 shares of the biopharmaceutical company’s stock valued at $7,990,000 after acquiring an additional 296,165 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Fate Therapeutics by 9.4% in the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after acquiring an additional 108,602 shares during the period. Hedge funds and other institutional investors own 49.85% of the company’s stock.

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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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