Forty Seven (NASDAQ:FTSV) had its price objective cut by Oppenheimer from $35.00 to $20.00 in a report released on Wednesday, The Fly reports. Oppenheimer’s price target would suggest a potential upside of 216.46% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Forty Seven from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, May 14th. HC Wainwright set a $21.00 price objective on Forty Seven and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Roth Capital began coverage on Forty Seven in a research report on Wednesday, May 29th. They issued a “buy” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Forty Seven currently has a consensus rating of “Buy” and an average target price of $25.86.
FTSV traded down $1.90 on Wednesday, hitting $6.32. The company had a trading volume of 402,675 shares, compared to its average volume of 228,588. The stock’s fifty day simple moving average is $9.32. Forty Seven has a 1-year low of $6.20 and a 1-year high of $23.83. The company has a market capitalization of $198.19 million, a PE ratio of -1.69 and a beta of 1.86.
Forty Seven (NASDAQ:FTSV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.05). On average, sell-side analysts forecast that Forty Seven will post -2.62 earnings per share for the current year.
In other news, major shareholder Lightspeed Venture Partners X, acquired 625,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $5,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravindra Majeti sold 4,311 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $16.02, for a total value of $69,062.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,311 shares of company stock worth $450,708. 37.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of Forty Seven by 535.2% in the 2nd quarter. Bank of America Corp DE now owns 64,170 shares of the company’s stock valued at $680,000 after buying an additional 54,067 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Forty Seven by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 499,451 shares of the company’s stock valued at $5,294,000 after purchasing an additional 5,741 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Forty Seven in the 2nd quarter valued at about $279,000. BlackRock Inc. lifted its stake in shares of Forty Seven by 10.9% in the 2nd quarter. BlackRock Inc. now owns 1,263,882 shares of the company’s stock valued at $13,399,000 after purchasing an additional 124,286 shares during the period. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Forty Seven in the 2nd quarter valued at about $268,000. Hedge funds and other institutional investors own 47.47% of the company’s stock.
About Forty Seven
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; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.
Further Reading: Options Trading – Understanding Strike Price
Receive News & Ratings for Forty Seven Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forty Seven and related companies with MarketBeat.com's FREE daily email newsletter.