Forty Seven Inc (NASDAQ:FTSV) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $25.88.
Several equities research analysts have recently weighed in on FTSV shares. Zacks Investment Research cut shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. HC Wainwright set a $5.00 price target on shares of Eyepoint Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday. Guggenheim cut shares of Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a research report on Friday, April 12th. Roth Capital started coverage on shares of Forty Seven in a research report on Wednesday, May 29th. They issued a “buy” rating and a $28.00 price target for the company. Finally, Oppenheimer set a $13.00 price target on shares of Alpine Immune Sciences and gave the stock a “buy” rating in a research report on Tuesday, March 19th.
Forty Seven stock traded down $0.13 during trading hours on Tuesday, hitting $10.12. The company had a trading volume of 117,600 shares, compared to its average volume of 189,274. The company has a market cap of $322.37 million and a price-to-earnings ratio of -2.70. Forty Seven has a 1 year low of $9.76 and a 1 year high of $23.83. The business’s 50-day simple moving average is $10.86.
Forty Seven (NASDAQ:FTSV) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.14). As a group, equities analysts expect that Forty Seven will post -2.72 earnings per share for the current fiscal year.
In related news, insider Chris H. Takimoto sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.99, for a total transaction of $143,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ravindra Majeti sold 4,311 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $16.02, for a total transaction of $69,062.22. The disclosure for this sale can be found here. Insiders sold a total of 81,811 shares of company stock valued at $1,260,608 in the last ninety days. Corporate insiders own 37.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new position in shares of Forty Seven during the 1st quarter worth approximately $32,000. BNP Paribas Arbitrage SA bought a new position in shares of Forty Seven during the 1st quarter worth approximately $48,000. Metropolitan Life Insurance Co NY bought a new position in shares of Forty Seven during the 1st quarter worth approximately $88,000. New York State Common Retirement Fund bought a new position in shares of Forty Seven during the 4th quarter worth approximately $101,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Forty Seven during the 1st quarter worth approximately $122,000. Hedge funds and other institutional investors own 47.34% 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.
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