Shares of Fate Therapeutics Inc (NASDAQ:FATE) have received a consensus recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $7.67.
Several equities research analysts have weighed in on FATE shares. Zacks Investment Research raised Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Tuesday, January 9th. Wedbush reissued an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Monday, December 18th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Thursday, October 12th. Piper Jaffray Companies started coverage on Fate Therapeutics in a report on Monday, December 18th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Raymond James Financial reissued a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th.
Institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in shares of Fate Therapeutics during the second quarter worth about $131,000. Rhumbline Advisers acquired a new stake in shares of Fate Therapeutics during the second quarter worth about $133,000. Hochman Cole Investment Advisors Inc. acquired a new stake in shares of Fate Therapeutics during the third quarter worth about $158,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Fate Therapeutics during the second quarter worth about $214,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Fate Therapeutics during the second quarter worth about $219,000. 49.86% of the stock is owned by hedge funds and other institutional investors.
Fate Therapeutics (NASDAQ:FATE) last issued 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 analyst estimates 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. sell-side analysts forecast that Fate Therapeutics will post -0.98 EPS for the current year.
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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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