Jefferies Financial Group assumed coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $17.00 price target on the biopharmaceutical company’s stock. Jefferies Financial Group also issued estimates for Fate Therapeutics’ Q4 2018 earnings at ($0.33) EPS, FY2018 earnings at ($1.29) EPS, FY2019 earnings at ($1.35) EPS, FY2020 earnings at ($1.24) EPS, FY2021 earnings at ($1.35) EPS and FY2022 earnings at ($1.41) EPS.
Several other analysts have also weighed in on the company. Piper Jaffray Companies reissued an overweight rating and issued a $23.00 target price on shares of Fate Therapeutics in a report on Tuesday, September 25th. BidaskClub raised Fate Therapeutics from a hold rating to a buy rating in a report on Tuesday, September 25th. Zacks Investment Research upgraded Fate Therapeutics from a sell rating to a hold rating in a research report on Friday, September 21st. Wedbush restated an outperform rating and issued a $19.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Finally, HC Wainwright restated a hold rating and issued a $12.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $17.25.
Fate Therapeutics stock opened at $13.59 on Monday. The company has a current ratio of 9.44, a quick ratio of 9.44 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $936.81 million, a price-to-earnings ratio of -13.32 and a beta of 1.95. Fate Therapeutics has a fifty-two week low of $3.80 and a fifty-two week high of $16.94.
Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). The firm had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.24 million. Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted ($0.26) EPS. Equities analysts predict that Fate Therapeutics will post -1.2 EPS for the current year.
In related news, Director Redmile Group, Llc acquired 3,703,704 shares of Fate Therapeutics stock in a transaction dated Tuesday, September 25th. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.89% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Northern Trust Corp lifted its position in Fate Therapeutics by 27.9% during the first quarter. Northern Trust Corp now owns 496,919 shares of the biopharmaceutical company’s stock worth $4,850,000 after buying an additional 108,503 shares during the period. BlackRock Inc. lifted its position in Fate Therapeutics by 70.2% during the first quarter. BlackRock Inc. now owns 2,903,009 shares of the biopharmaceutical company’s stock worth $28,332,000 after buying an additional 1,197,716 shares during the period. Barclays PLC lifted its position in Fate Therapeutics by 201.9% during the first quarter. Barclays PLC now owns 18,805 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 12,577 shares during the period. California State Teachers Retirement System lifted its position in Fate Therapeutics by 21.5% during the first quarter. California State Teachers Retirement System now owns 73,532 shares of the biopharmaceutical company’s stock worth $718,000 after buying an additional 13,032 shares during the period. Finally, Boston Advisors LLC lifted its position in Fate Therapeutics by 12.8% during the second quarter. Boston Advisors LLC now owns 58,030 shares of the biopharmaceutical company’s stock worth $658,000 after buying an additional 6,570 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.
About Fate Therapeutics
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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