Brokerages Set Forty Seven Inc (FTSV) PT at $26.75

Shares of Forty Seven Inc (NASDAQ:FTSV) have earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.75.

A number of brokerages have recently commented on FTSV. ValuEngine upgraded Forty Seven from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Morgan Stanley lifted their target price on Forty Seven from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Zacks Investment Research raised Forty Seven from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Oppenheimer started coverage on Forty Seven in a research report on Monday, July 23rd. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Credit Suisse Group started coverage on Forty Seven in a research report on Monday, July 23rd. They issued an “outperform” rating and a $24.00 target price on the stock.

In other Forty Seven news, Director Christopher J. Schaepe purchased 66,542 shares of the stock in a transaction on 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ravi Mhatre purchased 166,858 shares of the stock in a transaction on Thursday, August 23rd. The shares were acquired at an average cost of $15.08 per share, for a total transaction of $2,516,218.64. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 300,900 shares of company stock worth $4,540,995.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in shares of Forty Seven in the second quarter valued at approximately $120,000. Waddell & Reed Financial Inc. acquired a new position in shares of Forty Seven in the second quarter valued at approximately $160,000. Janus Henderson Group PLC acquired a new position in shares of Forty Seven in the second quarter valued at approximately $160,000. DAFNA Capital Management LLC acquired a new position in shares of Forty Seven in the second quarter valued at approximately $160,000. Finally, TD Asset Management Inc. acquired a new position in shares of Forty Seven in the second quarter valued at approximately $215,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Forty Seven stock opened at $13.23 on Thursday. Forty Seven has a one year low of $12.02 and a one year high of $16.86.

Forty Seven (NASDAQ:FTSV) last issued its quarterly earnings results on Monday, August 13th. The company reported ($2.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($1.84). As a group, equities research analysts predict that Forty Seven will post -2.96 EPS for the current year.

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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