Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Leerink Swann reduced their FY2018 earnings estimates for Fate Therapeutics in a research note issued on Tuesday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will earn ($0.88) per share for the year, down from their previous estimate of ($0.84). Leerink Swann also issued estimates for Fate Therapeutics’ FY2019 earnings at ($0.81) EPS and FY2020 earnings at ($1.56) EPS.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Monday, March 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.02 million. The company’s revenue was up .0% on a year-over-year basis.
FATE has been the subject of several other research reports. ValuEngine upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, January 9th. Raymond James Financial reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. Wedbush reiterated an “outperform” rating and set a $7.00 price objective (down previously from $10.00) on shares of Fate Therapeutics in a report on Thursday, January 18th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $19.00 price objective (up previously from $10.00) on shares of Fate Therapeutics in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $13.00.
Shares of Fate Therapeutics (NASDAQ FATE) opened at $13.17 on Thursday. Fate Therapeutics has a twelve month low of $2.52 and a twelve month high of $14.45. The company has a current ratio of 9.29, a quick ratio of 7.21 and a debt-to-equity ratio of 0.19.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in shares of Fate Therapeutics by 968.7% in the 2nd quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after acquiring an additional 333,753 shares during the period. Monashee Investment Management LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $1,833,000. TIAA CREF Investment Management LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter valued at $373,000. Vanguard Group Inc. increased its position in shares of Fate Therapeutics by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after acquiring an additional 108,602 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of Fate Therapeutics by 167.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 133,000 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 83,300 shares during the period. 68.75% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/10/fate-therapeutics-inc-to-post-fy2018-earnings-of-0-88-per-share-leerink-swann-forecasts-fate.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.
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.