Five Prime Therapeutics (FPRX) Downgraded to Sell at Zacks Investment Research

Five Prime Therapeutics (NASDAQ:FPRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Five Prime Therapeutics, Inc. is a biotechnology company. The company focuses on the discovery and development of protein therapeutics that blocks cancer and inflammatory disease processes. It operates primarily in the United States and Canada. Five Prime Therapeutics, Inc. is based in San Francisco, California. “

Several other research firms also recently commented on FPRX. Royal Bank of Canada boosted their target price on shares of Five Prime Therapeutics from $41.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. BMO Capital Markets boosted their target price on shares of Five Prime Therapeutics from $71.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 7th. ValuEngine downgraded shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, BidaskClub downgraded shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. Three investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.00.

Five Prime Therapeutics (NASDAQ:FPRX) traded down $0.08 during trading on Wednesday, reaching $19.09. 461,422 shares of the company’s stock traded hands, compared to its average volume of 558,906. The firm has a market cap of $637.02, a price-to-earnings ratio of -3.77 and a beta of 3.56. Five Prime Therapeutics has a 1 year low of $17.05 and a 1 year high of $49.30.

Hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new stake in Five Prime Therapeutics in the fourth quarter worth approximately $221,000. Oppenheimer & Co. Inc. bought a new stake in Five Prime Therapeutics in the third quarter worth approximately $223,000. Virtu KCG Holdings LLC bought a new stake in Five Prime Therapeutics in the second quarter worth approximately $331,000. Dupont Capital Management Corp bought a new stake in shares of Five Prime Therapeutics during the 3rd quarter worth $341,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Five Prime Therapeutics by 9.5% during the 2nd quarter. Voya Investment Management LLC now owns 12,594 shares of the biotechnology company’s stock worth $379,000 after buying an additional 1,097 shares during the period. 72.14% of the stock is owned by institutional investors.

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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.

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