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.
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