Five Prime Therapeutics, Inc. (FPRX) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) in a research report sent to investors on Wednesday, October 25th. They currently have a $41.00 price target on the biotechnology company’s stock.

A number of other brokerages have also recently commented on FPRX. Zacks Investment Research upgraded shares of Five Prime Therapeutics from a sell rating to a buy rating and set a $49.00 price target on the stock in a research report on Monday, October 16th. BMO Capital Markets upgraded shares of Five Prime Therapeutics from a market perform rating to an outperform rating in a report on Monday, October 16th. Jefferies Group LLC reaffirmed a buy rating and issued a $52.00 price target on shares of Five Prime Therapeutics in a research note on Tuesday, September 12th. ValuEngine raised Five Prime Therapeutics from a strong sell rating to a sell rating in a research note on Friday, September 1st. Finally, BidaskClub lowered Five Prime Therapeutics from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Five Prime Therapeutics presently has a consensus rating of Hold and a consensus price target of $64.00.

Five Prime Therapeutics (NASDAQ FPRX) traded up $1.06 during midday trading on Wednesday, hitting $28.83. 1,603,400 shares of the stock traded hands, compared to its average volume of 397,955. Five Prime Therapeutics has a 12-month low of $21.41 and a 12-month high of $60.98.

Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.19). Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. The firm had revenue of $8.33 million during the quarter, compared to analysts’ expectations of $16.16 million. During the same period in the previous year, the company posted ($0.72) earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. research analysts expect that Five Prime Therapeutics will post -5.56 earnings per share for the current year.

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In other news, Director William R. Ringo sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $40.26, for a total transaction of $72,468.00. Following the sale, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $48,312. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Ringo sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $45.33, for a total value of $27,198.00. Following the sale, the director now directly owns 600 shares in the company, valued at $27,198. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,400 shares of company stock valued at $175,666. 6.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Five Prime Therapeutics by 4.1% during the 3rd quarter. Wells Fargo & Company MN now owns 185,382 shares of the biotechnology company’s stock worth $7,584,000 after acquiring an additional 7,294 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Five Prime Therapeutics during the 3rd quarter valued at approximately $988,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Five Prime Therapeutics by 10.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 33,080 shares of the biotechnology company’s stock valued at $1,353,000 after purchasing an additional 3,208 shares during the last quarter. Sphera Funds Management LTD. bought a new position in shares of Five Prime Therapeutics during the 3rd quarter valued at approximately $1,636,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Five Prime Therapeutics during the 3rd quarter valued at approximately $223,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Five Prime Therapeutics Company Profile

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.

Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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