-$0.70 Earnings Per Share Expected for Forty Seven Inc (NASDAQ:FTSV) This Quarter

Analysts expect Forty Seven Inc (NASDAQ:FTSV) to announce earnings of ($0.70) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Forty Seven’s earnings, with the highest EPS estimate coming in at ($0.61) and the lowest estimate coming in at ($0.83). Forty Seven posted earnings per share of ($0.56) in the same quarter last year, which indicates a negative year over year growth rate of 25%. The company is expected to announce its next earnings results on Thursday, March 26th.

On average, analysts expect that Forty Seven will report full year earnings of ($2.50) per share for the current year, with EPS estimates ranging from ($2.60) to ($2.42). For the next financial year, analysts forecast that the business will post earnings of ($2.98) per share, with EPS estimates ranging from ($3.59) to ($2.59). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Forty Seven.

Forty Seven (NASDAQ:FTSV) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.38) earnings per share for the quarter, hitting the consensus estimate of ($0.38). The firm had revenue of $15.68 million for the quarter, compared to analyst estimates of $15.80 million.

FTSV has been the topic of several recent analyst reports. Roth Capital boosted their price objective on shares of Forty Seven from to and gave the stock a “buy” rating in a research note on Tuesday, January 7th. SunTrust Banks initiated coverage on shares of Forty Seven in a research note on Monday, January 13th. They set a “buy” rating and a $55.00 price objective on the stock. Credit Suisse Group restated an “outperform” rating and set a $18.00 price objective (up from $15.00) on shares of Forty Seven in a research note on Thursday, December 5th. Morgan Stanley boosted their price objective on shares of Forty Seven from $17.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Citigroup boosted their price objective on shares of Forty Seven from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $36.92.

Forty Seven stock opened at $42.78 on Friday. The firm has a market capitalization of $1.93 billion, a PE ratio of -17.68 and a beta of 3.53. The company’s 50-day moving average is $36.24 and its 200-day moving average is $15.17. Forty Seven has a fifty-two week low of $5.53 and a fifty-two week high of $49.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.48 and a quick ratio of 7.48.

In related news, Director Ravindra Majeti sold 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.26, for a total value of $153,900.00. Following the transaction, the director now owns 1,221,400 shares in the company, valued at approximately $12,531,564. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Irving Weissman sold 30,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $44.22, for a total transaction of $1,326,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,000 shares of company stock worth $3,963,400. 37.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FTSV. Tower Research Capital LLC TRC grew its stake in Forty Seven by 5,976.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,132 shares of the company’s stock valued at $27,000 after buying an additional 4,064 shares during the last quarter. River & Mercantile Asset Management LLP bought a new stake in Forty Seven in the 2nd quarter valued at about $35,000. SG Americas Securities LLC bought a new stake in Forty Seven in the 3rd quarter valued at about $73,000. Metropolitan Life Insurance Co NY bought a new stake in Forty Seven in the 1st quarter valued at about $88,000. Finally, California State Teachers Retirement System boosted its holdings in Forty Seven by 36.2% in the 3rd quarter. California State Teachers Retirement System now owns 34,644 shares of the company’s stock valued at $222,000 after purchasing an additional 9,216 shares during the period. Institutional investors and hedge funds own 54.31% of the company’s stock.

Forty Seven Company Profile

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.

Read More: Different Types of Derivatives

Get a free copy of the Zacks research report on Forty Seven (FTSV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Forty Seven (NASDAQ:FTSV)

Receive News & Ratings for Forty Seven Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forty Seven and related companies with MarketBeat.com's FREE daily email newsletter.