Forty Seven (NASDAQ:FTSV) received a $35.00 price target from equities research analysts at Oppenheimer in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 118.34% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Forty Seven from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Zacks Investment Research upgraded shares of Forty Seven from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. BTIG Research assumed coverage on shares of Forty Seven in a research report on Friday, December 21st. They set a “buy” rating and a $36.00 target price on the stock. HC Wainwright assumed coverage on shares of Forty Seven in a research report on Friday, November 30th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Morgan Stanley boosted their target price on shares of Forty Seven from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.78.
Shares of Forty Seven stock traded up $0.12 during trading on Friday, reaching $16.03. 60,471 shares of the company traded hands, compared to its average volume of 246,383. Forty Seven has a 1-year low of $12.02 and a 1-year high of $23.83.
Forty Seven (NASDAQ:FTSV) last released its 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). On average, equities research analysts expect that Forty Seven will post -3.42 EPS for the current fiscal year.
In other Forty Seven news, insider Mark Anthony Mccamish sold 12,000 shares of the business’s stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $15.90, for a total transaction of $190,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris H. Takimoto sold 8,000 shares of the business’s stock in a transaction on Friday, January 4th. The shares were sold at an average price of $15.55, for a total transaction of $124,400.00. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC increased its stake in Forty Seven by 144.4% during the 3rd quarter. Citadel Advisors LLC now owns 572,923 shares of the company’s stock valued at $8,548,000 after purchasing an additional 338,489 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Forty Seven in the 2nd quarter worth $1,940,000. JPMorgan Chase & Co. grew its stake in shares of Forty Seven by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 346,066 shares of the company’s stock worth $5,164,000 after acquiring an additional 117,142 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Forty Seven in the 2nd quarter worth $548,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Forty Seven in the 2nd quarter worth $400,000. Institutional investors and hedge funds 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.
Further Reading: Institutional Investors
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