Fate Therapeutics (NASDAQ:FATE) Lifted to Buy at Zacks Investment Research

Fate Therapeutics (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The brokerage currently has a $7.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential downside of 19.61% from the company’s previous close.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

Several other equities analysts have also recently issued reports on FATE. ValuEngine cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Thursday, October 12th. BMO Capital Markets reiterated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Thursday, November 2nd. Raymond James Financial reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. Finally, Piper Jaffray Companies started coverage on Fate Therapeutics in a report on Monday, December 18th. They issued an “overweight” rating and a $10.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $7.71.

Shares of Fate Therapeutics (NASDAQ FATE) opened at $9.33 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. The company has a market capitalization of $475.66, a price-to-earnings ratio of -9.82 and a beta of 1.52. Fate Therapeutics has a 1-year low of $2.52 and a 1-year high of $9.78.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The business’s revenue was up .0% compared to the same quarter last year. research analysts expect that Fate Therapeutics will post -0.98 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its holdings in Fate Therapeutics by 968.7% during the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock worth $1,193,000 after buying an additional 333,753 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Fate Therapeutics by 164.7% during the second quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock worth $511,000 after buying an additional 98,036 shares during the last quarter. TIAA CREF Investment Management LLC bought a new position in Fate Therapeutics during the second quarter worth about $373,000. OxFORD Asset Management LLP bought a new position in Fate Therapeutics during the second quarter worth about $303,000. Finally, Vanguard Group Inc. boosted its holdings in Fate Therapeutics by 9.4% during the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock worth $4,096,000 after buying an additional 108,602 shares during the last quarter. Hedge funds and other institutional investors own 49.79% of the company’s stock.

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Fate Therapeutics Company Profile

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

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