HC Wainwright Begins Coverage on Forty Seven (FTSV)

HC Wainwright initiated coverage on shares of Forty Seven (NASDAQ:FTSV) in a report released on Sunday. The firm set a “buy” rating and a $17.66 price target on the stock. HC Wainwright’s price objective would suggest a potential downside of 4.07% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Forty Seven from a “sell” rating to a “hold” rating in a research note on Friday, November 9th. ValuEngine upgraded Forty Seven from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $24.93.

Shares of FTSV stock remained flat at $$18.41 on Friday. The stock had a trading volume of 97,379 shares, compared to its average volume of 90,909. Forty Seven has a 52-week low of $12.02 and a 52-week high of $19.82.

Forty Seven (NASDAQ:FTSV) last released its quarterly earnings results on Tuesday, November 13th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.17). As a group, research analysts predict that Forty Seven will post -3.42 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc. purchased a new position in shares of Forty Seven in the second quarter worth approximately $215,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of Forty Seven in the second quarter worth approximately $11,252,000. BlackRock Inc. purchased a new position in shares of Forty Seven in the second quarter worth approximately $548,000. Janus Henderson Group PLC purchased a new position in shares of Forty Seven in the second quarter worth approximately $160,000. Finally, FMR LLC purchased a new position in shares of Forty Seven in the second quarter worth approximately $5,333,000. Institutional investors own 41.44% 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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Analyst Recommendations for Forty Seven (NASDAQ:FTSV)

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