Five Prime Therapeutics (FPRX) Downgraded by Zacks Investment Research to Hold

Five Prime Therapeutics (NASDAQ:FPRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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 brokerages have also recently issued reports on FPRX. BidaskClub cut Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 17th. ValuEngine raised Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, April 2nd. Nomura cut their target price on Five Prime Therapeutics from $94.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. BMO Capital Markets cut their target price on Five Prime Therapeutics from $75.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Goldman Sachs initiated coverage on Five Prime Therapeutics in a report on Thursday, May 10th. They set a “neutral” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Five Prime Therapeutics has an average rating of “Hold” and an average target price of $34.71.

Shares of Five Prime Therapeutics traded up $0.15, hitting $18.90, during mid-day trading on Thursday, MarketBeat Ratings reports. 645,724 shares of the company traded hands, compared to its average volume of 531,870. The stock has a market cap of $624.97 million, a price-to-earnings ratio of -3.51 and a beta of 3.42. Five Prime Therapeutics has a 12-month low of $17.75 and a 12-month high of $18.45.

Five Prime Therapeutics (NASDAQ:FPRX) last announced its earnings results on Tuesday, May 8th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.08). The company had revenue of $32.49 million for the quarter, compared to analysts’ expectations of $37.50 million. Five Prime Therapeutics had a negative net margin of 221.74% and a negative return on equity of 44.36%. analysts anticipate that Five Prime Therapeutics will post -4.64 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in Five Prime Therapeutics during the first quarter worth $111,000. Quantbot Technologies LP lifted its holdings in Five Prime Therapeutics by 361.5% during the first quarter. Quantbot Technologies LP now owns 7,347 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 5,755 shares during the period. Teacher Retirement System of Texas bought a new stake in Five Prime Therapeutics during the fourth quarter worth $221,000. MetLife Investment Advisors LLC bought a new stake in Five Prime Therapeutics during the fourth quarter worth $294,000. Finally, Virtus Fund Advisers LLC bought a new stake in Five Prime Therapeutics during the fourth quarter worth $381,000. Institutional investors and hedge funds own 76.15% 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.

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