Fate Therapeutics Inc (FATE) Expected to Announce Earnings of -$0.24 Per Share

Wall Street analysts forecast that Fate Therapeutics Inc (NASDAQ:FATE) will announce ($0.24) earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Fate Therapeutics’ earnings. The highest EPS estimate is ($0.21) and the lowest is ($0.27). Fate Therapeutics reported earnings of ($0.21) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The firm is expected to announce its next quarterly earnings report on Thursday, March 15th.

On average, analysts expect that Fate Therapeutics will report full year earnings of ($0.97) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.94). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.87) per share, with EPS estimates ranging from ($1.01) to ($0.72). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Fate Therapeutics.

Several brokerages have commented on FATE. ValuEngine raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub raised Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $7.00 target price (down from $10.00) on shares of Fate Therapeutics in a report on Thursday, January 18th. Finally, Piper Jaffray Companies began coverage on Fate Therapeutics in a report on Monday, December 18th. They set an “overweight” rating and a $10.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $7.71.

Several hedge funds have recently bought and sold shares of the company. Monashee Investment Management LLC bought a new position in shares of Fate Therapeutics in the 4th quarter worth about $1,833,000. BlackRock Inc. raised its position in shares of Fate Therapeutics by 2.6% in the 4th quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock worth $10,421,000 after acquiring an additional 43,499 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Fate Therapeutics by 61.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 12,686 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Fate Therapeutics by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 328,023 shares of the biopharmaceutical company’s stock worth $2,004,000 after acquiring an additional 84,269 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Fate Therapeutics by 260.7% in the 4th quarter. Victory Capital Management Inc. now owns 334,680 shares of the biopharmaceutical company’s stock worth $2,045,000 after acquiring an additional 241,890 shares in the last quarter. 50.00% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics (NASDAQ FATE) traded down $0.20 during midday trading on Monday, hitting $7.80. The company had a trading volume of 307,009 shares, compared to its average volume of 653,369. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. Fate Therapeutics has a 12 month low of $2.52 and a 12 month high of $9.78. The firm has a market cap of $397.66, a P/E ratio of -8.21 and a beta of 2.00.

WARNING: This report was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this report can be read at https://www.dispatchtribunal.com/2018/02/19/fate-therapeutics-inc-fate-expected-to-announce-earnings-of-0-24-per-share.html.

About Fate Therapeutics

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.

Get a free copy of the Zacks research report on Fate Therapeutics (FATE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply