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.
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