Forty Seven (NASDAQ:FTSV) Hits New 12-Month High at $26.38

Forty Seven Inc (NASDAQ:FTSV) hit a new 52-week high on Monday . The company traded as high as $26.38 and last traded at $22.60, with a volume of 1466397 shares changing hands. The stock had previously closed at $14.44.

A number of brokerages have weighed in on FTSV. BTIG Research lifted their target price on Forty Seven to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Mizuho reaffirmed a “buy” rating and set a $37.00 target price (up from $18.00) on shares of Forty Seven in a research report on Tuesday. Citigroup reaffirmed an “outperform” rating and set a $35.00 target price (up from $20.00) on shares of Forty Seven in a research report on Tuesday. Morgan Stanley lifted their target price on Forty Seven from $17.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Oppenheimer decreased their target price on Forty Seven from $35.00 to $20.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $29.55.

The firm has a market capitalization of $610.47 million, a P/E ratio of -9.24 and a beta of 2.44. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $10.74 and a two-hundred day simple moving average of $9.20.

Forty Seven (NASDAQ:FTSV) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.38) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.38). The company had revenue of $15.68 million during the quarter, compared to the consensus estimate of $15.80 million. As a group, research analysts expect that Forty Seven Inc will post -2.53 EPS for the current year.

In other news, Director Ravindra Majeti sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $12.50, for a total value of $62,500.00. Following the completion of the transaction, the director now directly owns 1,201,400 shares of the company’s stock, valued at approximately $15,017,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 37.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of Forty Seven by 5,976.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,132 shares of the company’s stock worth $27,000 after acquiring an additional 4,064 shares in the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of Forty Seven in the 2nd quarter worth $35,000. SG Americas Securities LLC bought a new position in shares of Forty Seven in the 3rd quarter worth $73,000. Metropolitan Life Insurance Co NY bought a new position in shares of Forty Seven in the 1st quarter worth $88,000. Finally, Swiss National Bank bought a new position in shares of Forty Seven in the 2nd quarter worth $184,000. 54.31% of the stock is owned by hedge funds and other institutional investors.

Forty Seven Company Profile (NASDAQ:FTSV)

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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