Forty Seven Inc (NASDAQ:FTSV) has been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $26.83.
FTSV has been the topic of several recent research reports. Roth Capital initiated coverage on Forty Seven in a report on Wednesday, May 29th. They set a “buy” rating and a $28.00 price target on the stock. HC Wainwright set a $21.00 price target on Forty Seven and gave the stock a “buy” rating in a report on Friday, July 12th. Guggenheim initiated coverage on Forty Seven in a report on Friday, April 12th. They set a “buy” rating on the stock. Finally, Zacks Investment Research upgraded Forty Seven from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, May 14th.
Shares of FTSV stock traded down $0.31 on Friday, hitting $8.37. The stock had a trading volume of 222,683 shares, compared to its average volume of 449,882. The firm has a market capitalization of $279.09 million, a price-to-earnings ratio of -2.23 and a beta of 1.86. Forty Seven has a 1 year low of $8.14 and a 1 year high of $23.83. The firm has a 50 day moving average of $9.97.
Forty Seven (NASDAQ:FTSV) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.14). As a group, analysts expect that Forty Seven will post -2.62 earnings per share for the current year.
In other Forty Seven news, Director Ravindra Majeti sold 4,311 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $16.02, for a total transaction of $69,062.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Bird acquired 750,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were acquired at an average cost of $8.00 per share, with a total value of $6,000,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 37,311 shares of company stock worth $450,708. 37.40% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in FTSV. PNC Financial Services Group Inc. acquired a new position in shares of Forty Seven during the 1st quarter worth about $32,000. BNP Paribas Arbitrage SA acquired a new position in shares of Forty Seven during the 1st quarter worth about $48,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Forty Seven during the 1st quarter worth about $88,000. New York State Common Retirement Fund acquired a new position in shares of Forty Seven during the 4th quarter worth about $101,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Forty Seven during the 1st quarter worth about $122,000. 47.22% of the stock is owned by institutional investors and hedge funds.
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; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.
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