Forty Seven (NASDAQ:FTSV) had its target price boosted by research analysts at Morgan Stanley from $25.00 to $26.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 74.85% from the stock’s previous close.
FTSV has been the subject of several other reports. Zacks Investment Research downgraded Forty Seven from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Credit Suisse Group started coverage on Forty Seven in a report on Monday, July 23rd. They issued an “outperform” rating and a $24.00 price target for the company. Oppenheimer started coverage on Forty Seven in a report on Monday, July 23rd. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Canaccord Genuity started coverage on Forty Seven in a report on Monday, July 23rd. They issued a “buy” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Forty Seven currently has an average rating of “Buy” and a consensus target price of $26.75.
Shares of FTSV opened at $14.87 on Thursday. Forty Seven has a fifty-two week low of $12.16 and a fifty-two week high of $16.86.
Forty Seven (NASDAQ:FTSV) last issued its quarterly earnings results on Monday, August 13th. The company reported ($2.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($1.84). Equities research analysts predict that Forty Seven will post -2.96 EPS for the current fiscal year.
In other news, major shareholder Ravi Mhatre acquired 166,858 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average cost of $15.08 per share, for a total transaction of $2,516,218.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher J. Schaepe acquired 66,542 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were purchased at an average price of $15.03 per share, with a total value of $1,000,126.26. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 300,900 shares of company stock valued at $4,540,995.
Several hedge funds have recently added to or reduced their stakes in FTSV. Point72 Hong Kong Ltd acquired a new stake in shares of Forty Seven during the 2nd quarter worth $120,000. Waddell & Reed Financial Inc. acquired a new stake in shares of Forty Seven during the 2nd quarter worth $160,000. DAFNA Capital Management LLC acquired a new stake in shares of Forty Seven during the 2nd quarter worth $160,000. Janus Henderson Group PLC acquired a new stake in shares of Forty Seven during the 2nd quarter worth $160,000. Finally, TD Asset Management Inc. acquired a new stake in shares of Forty Seven during the 2nd quarter worth $215,000. Institutional investors and hedge funds own 41.05% of the company’s stock.
About Forty Seven
Forty Seven Inc, a clinical-stage immuno-oncology company, focuses on developing therapies to activate macrophages for the treatment of cancer. It is developing 5F9, a humanized IgG4 subclass monoclonal antibody against CD47 that is in Phase 1b/2 clinical trials used for the treatment of cancer; and FSI-189, an antibody that binds to SIRPa for the treatment of solid tumors.
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