Forty Seven (NASDAQ:FTSV)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday. They currently have a $21.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 33.59% from the company’s current price.
The analysts wrote, “We maintain our Buy rating on FTSV and our 12-month price target of $21.00 per share. We derive our price target based on a risk-based NPV (rNPV) analysis of projected 5F9 revenues through 2030 assuming a 12% discount rate and 3% terminal growth rate. We derive rNPV of $975M for 5F9 and add in cash, cash equivalents, and short-term investments of $154M to arrive at a 12-month price target of $20.79 per diluted share, which we round to $21.00.””
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Forty Seven from a “sell” rating to a “hold” rating in a research note on Friday, November 9th. Oppenheimer set a $35.00 price target on Forty Seven and gave the stock a “buy” rating in a report on Friday. ValuEngine upgraded Forty Seven from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BTIG Research started coverage on Forty Seven in a research note on Friday, December 21st. They issued a “buy” rating and a $36.00 price target for the company. Finally, Morgan Stanley increased their target price on Forty Seven from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $27.33.
Shares of FTSV traded down $0.04 during mid-day trading on Monday, reaching $15.72. The stock had a trading volume of 18,425 shares, compared to its average volume of 235,816. Forty Seven has a 52-week low of $12.02 and a 52-week high of $23.83.
Forty Seven (NASDAQ:FTSV) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.17). Equities research analysts anticipate that Forty Seven will post -3.42 EPS for the current year.
In other news, insider Chris H. Takimoto sold 8,000 shares of the stock in a transaction on Friday, January 4th. The stock was sold at an average price of $15.55, for a total value of $124,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Irving Weissman sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $17.05, for a total value of $170,500.00. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $485,700 in the last three months.
A number of hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC boosted its stake in shares of Forty Seven by 144.4% in the third quarter. Citadel Advisors LLC now owns 572,923 shares of the company’s stock valued at $8,548,000 after buying an additional 338,489 shares during the period. JPMorgan Chase & Co. lifted its stake in Forty Seven by 51.2% in the third quarter. JPMorgan Chase & Co. now owns 346,066 shares of the company’s stock worth $5,164,000 after purchasing an additional 117,142 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Forty Seven during the second quarter valued at about $1,940,000. BlackRock Inc. bought a new position in shares of Forty Seven in the second quarter worth approximately $548,000. Finally, Point72 Asset Management L.P. bought a new position in Forty Seven during the second quarter valued at approximately $400,000. Hedge funds and other institutional investors own 41.44% of the company’s stock.
Forty Seven Company Profile
Forty Seven Inc, a clinical-stage immuno-oncology company, focuses on developing therapies to activate macrophages for the treatment of cancer. It is developing 5F9, a humanized IgG4 subclass monoclonal antibody against CD47 that is in Phase 1b/2 clinical trials used for the treatment of cancer; and FSI-189, an antibody that binds to SIRPa for the treatment of solid tumors.
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