Analysts expect Fate Therapeutics Inc (NASDAQ:FATE) to announce earnings per share (EPS) of ($0.26) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Fate Therapeutics’ earnings, with estimates ranging from ($0.29) to ($0.18). Fate Therapeutics posted earnings of ($0.23) per share in the same quarter last year, which would suggest a negative year over year growth rate of 13%. The business is scheduled to issue its next quarterly earnings report on Monday, August 13th.
According to Zacks, analysts expect that Fate Therapeutics will report full year earnings of ($1.05) per share for the current fiscal year, with EPS estimates ranging from ($1.16) to ($0.82). For the next financial year, analysts forecast that the business will post earnings of ($1.12) per share, with EPS estimates ranging from ($1.48) to ($0.79). Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.82 million. Fate Therapeutics had a negative net margin of 1,143.99% and a negative return on equity of 77.27%. The company’s quarterly revenue was up .0% on a year-over-year basis.
A number of analysts have issued reports on FATE shares. HC Wainwright downgraded shares of Fate Therapeutics from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Tuesday, March 6th. Piper Jaffray Companies reissued a “top pick” rating and issued a $20.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, March 6th. Wells Fargo & Co reissued an “outperform” rating and issued a $19.00 price objective (up from $10.00) on shares of Fate Therapeutics in a research note on Tuesday, March 6th. BMO Capital Markets lifted their price objective on shares of Fate Therapeutics from $7.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 6th. Finally, Wedbush reissued an “outperform” rating and issued a $19.00 price objective on shares of Fate Therapeutics in a research note on Thursday, March 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Fate Therapeutics has a consensus rating of “Buy” and a consensus price target of $15.00.
Several large investors have recently modified their holdings of FATE. Redmile Group LLC grew its stake 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 buying an additional 4,046,428 shares in the last quarter. BlackRock Inc. grew its stake in shares of Fate Therapeutics by 70.2% in the 1st quarter. BlackRock Inc. now owns 2,903,009 shares of the biopharmaceutical company’s stock worth $28,332,000 after buying an additional 1,197,716 shares in the last quarter. Artal Group S.A. purchased a new position in shares of Fate Therapeutics during the 1st quarter worth about $8,296,000. JPMorgan Chase & Co. boosted its stake in shares of Fate Therapeutics by 1,371.4% during the 1st quarter. JPMorgan Chase & Co. now owns 427,420 shares of the biopharmaceutical company’s stock worth $4,172,000 after purchasing an additional 398,372 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Fate Therapeutics by 873.6% during the 4th quarter. Millennium Management LLC now owns 338,799 shares of the biopharmaceutical company’s stock worth $2,070,000 after purchasing an additional 303,999 shares during the period. 74.56% of the stock is owned by institutional investors and hedge funds.
Fate Therapeutics traded up $0.25, reaching $12.02, on Friday, according to Marketbeat.com. The company had a trading volume of 143,388 shares, compared to its average volume of 933,784. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.20 and a current ratio of 7.20. The company has a market cap of $622.14 million, a P/E ratio of -11.78 and a beta of 1.75. Fate Therapeutics has a 12 month low of $2.52 and a 12 month high of $14.45.
About Fate Therapeutics
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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