Equities research analysts expect that Fate Therapeutics (NASDAQ:FATE) will announce sales of $2.34 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Fate Therapeutics’ earnings. The lowest sales estimate is $1.00 million and the highest is $5.00 million. Fate Therapeutics posted sales of $1.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 127.2%. The company is scheduled to issue its next earnings report on Monday, May 21st.
On average, analysts expect that Fate Therapeutics will report full-year sales of $2.34 million for the current year, with estimates ranging from $4.00 million to $8.00 million. For the next financial year, analysts expect that the firm will report sales of $3.37 million per share, with estimates ranging from $2.01 million to $4.11 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $1.02 million. The firm’s quarterly revenue was up .0% on a year-over-year basis.
A number of brokerages have issued reports on FATE. ValuEngine raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Wedbush reissued an “outperform” rating and issued a $19.00 price target on shares of Fate Therapeutics in a report on Thursday, March 29th. HC Wainwright reissued a “hold” rating and issued a $12.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 20th. UBS lowered shares of Fate Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 6th. Finally, Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $15.00.
Several large investors have recently bought and sold shares of the company. J. Goldman & Co LP purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth about $1,277,000. 683 Capital Management LLC lifted its position in shares of Fate Therapeutics by 25.8% in the 4th quarter. 683 Capital Management LLC now owns 853,800 shares of the biopharmaceutical company’s stock worth $5,217,000 after purchasing an additional 175,000 shares during the period. Endurant Capital Management LP lifted its position in shares of Fate Therapeutics by 104.1% in the 4th quarter. Endurant Capital Management LP now owns 556,679 shares of the biopharmaceutical company’s stock worth $3,401,000 after purchasing an additional 283,979 shares during the period. Redmile Group LLC lifted its position in shares of Fate Therapeutics by 285.1% in the 4th quarter. Redmile Group LLC now owns 5,465,486 shares of the biopharmaceutical company’s stock worth $33,394,000 after purchasing an additional 4,046,428 shares during the period. Finally, Millennium Management LLC lifted its position in Fate Therapeutics by 873.6% during the 4th quarter. Millennium Management LLC now owns 338,799 shares of the biopharmaceutical company’s stock valued at $2,070,000 after acquiring an additional 303,999 shares during the period. 66.41% of the stock is owned by hedge funds and other institutional investors.
FATE stock opened at $9.35 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.29 and a current ratio of 9.29. Fate Therapeutics has a 52 week low of $2.52 and a 52 week high of $14.45. The firm has a market cap of $489.73, a P/E ratio of -9.10 and a beta of 1.74.
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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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