Five Prime Therapeutics (FPRX) Rating Lowered to Sell at Zacks Investment Research

Five Prime Therapeutics (NASDAQ:FPRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Five Prime Therapeutics, Inc. is a biotechnology company. The company focuses on the discovery and development of protein therapeutics that blocks cancer and inflammatory disease processes. It operates primarily in the United States and Canada. Five Prime Therapeutics, Inc. is based in San Francisco, California. “

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada restated a “buy” rating and set a $41.00 price objective on shares of Five Prime Therapeutics in a research note on Wednesday, October 25th. BidaskClub upgraded Five Prime Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. BMO Capital Markets raised their price objective on Five Prime Therapeutics from $71.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. Finally, ValuEngine lowered Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $64.00.

Shares of Five Prime Therapeutics (NASDAQ FPRX) opened at $18.75 on Wednesday. Five Prime Therapeutics has a 12 month low of $17.05 and a 12 month high of $49.30. The firm has a market capitalization of $542.44, a P/E ratio of -3.70 and a beta of 3.56.

Several institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in shares of Five Prime Therapeutics by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,449 shares of the biotechnology company’s stock worth $646,000 after acquiring an additional 397 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of Five Prime Therapeutics by 3.0% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 17,227 shares of the biotechnology company’s stock worth $518,000 after acquiring an additional 494 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Five Prime Therapeutics by 9.5% in the 2nd quarter. Voya Investment Management LLC now owns 12,594 shares of the biotechnology company’s stock worth $379,000 after acquiring an additional 1,097 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Five Prime Therapeutics by 9.1% in the 3rd quarter. Alps Advisors Inc. now owns 28,330 shares of the biotechnology company’s stock worth $1,159,000 after acquiring an additional 2,364 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Five Prime Therapeutics by 8.5% in the 3rd quarter. New York State Common Retirement Fund now owns 30,600 shares of the biotechnology company’s stock worth $1,252,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 72.14% of the company’s stock.

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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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