Five Prime Therapeutics (NASDAQ:FPRX) had its price objective lowered by equities research analysts at Citigroup from $60.00 to $44.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the biotechnology company’s stock. Citigroup’s target price suggests a potential upside of 236.39% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Five Prime Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday, May 11th. BidaskClub raised Five Prime Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, May 19th. Wedbush upped their price target on Five Prime Therapeutics from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 10th. Raymond James initiated coverage on Five Prime Therapeutics in a research note on Thursday, June 28th. They issued a “market perform” rating on the stock. Finally, Goldman Sachs Group initiated coverage on Five Prime Therapeutics in a research note on Thursday, May 10th. They issued a “neutral” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $34.50.
FPRX stock traded down $0.10 during midday trading on Monday, hitting $13.08. The stock had a trading volume of 14,865 shares, compared to its average volume of 447,179. The stock has a market cap of $501.31 million, a price-to-earnings ratio of -2.43 and a beta of 3.32. Five Prime Therapeutics has a 52-week low of $13.13 and a 52-week high of $48.87.
Five Prime Therapeutics (NASDAQ:FPRX) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.99) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.30. The company had revenue of $7.58 million for the quarter, compared to analysts’ expectations of $5.87 million. Five Prime Therapeutics had a negative return on equity of 40.61% and a negative net margin of 206.02%. equities research analysts predict that Five Prime Therapeutics will post -4.38 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Five Prime Therapeutics by 17.8% in the first quarter. The Manufacturers Life Insurance Company now owns 25,032 shares of the biotechnology company’s stock worth $430,000 after acquiring an additional 3,782 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Five Prime Therapeutics by 12.0% in the second quarter. Alps Advisors Inc. now owns 51,090 shares of the biotechnology company’s stock worth $808,000 after buying an additional 5,474 shares during the period. Quantbot Technologies LP raised its stake in shares of Five Prime Therapeutics by 361.5% in the first quarter. Quantbot Technologies LP now owns 7,347 shares of the biotechnology company’s stock worth $126,000 after buying an additional 5,755 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Five Prime Therapeutics in the first quarter worth about $111,000. Finally, A.R.T. Advisors LLC grew its position in shares of Five Prime Therapeutics by 4.3% during the first quarter. A.R.T. Advisors LLC now owns 158,769 shares of the biotechnology company’s stock worth $2,727,000 after purchasing an additional 6,500 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.
Five Prime Therapeutics Company Profile
Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of immuno-oncology protein therapeutics. The company's product candidates include Cabiralizumab, an antibody that inhibits colony stimulating factor-1 receptor that is in Phase Ia/Ib clinical trials for the treatment of various cancers in combination with nivolumab; and is in Phase I/II clinical trials for the treatment of pigmented villonodular synovitis tumor.
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