Zacks Investment Research cut shares of Five Prime Therapeutics (NASDAQ:FPRX) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
According to Zacks, “Five Prime Therapeutics, Inc. is a biotechnology company. The company focuses on the discovery and development of protein therapeutics that blocks cancer and inflammatory disease processes. It operates primarily in the United States and Canada. Five Prime Therapeutics, Inc. is based in San Francisco, California. “
A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets lifted their price target on Five Prime Therapeutics from $71.00 to $75.00 and gave the company an outperform rating in a report on Tuesday, November 7th. Royal Bank of Canada reaffirmed a buy rating and set a $41.00 price target on shares of Five Prime Therapeutics in a report on Wednesday, October 25th. BidaskClub cut Five Prime Therapeutics from a hold rating to a sell rating in a report on Saturday, December 9th. Finally, ValuEngine cut Five Prime Therapeutics from a hold rating to a sell rating in a report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $64.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Five Prime Therapeutics during the third quarter valued at approximately $223,000. Dupont Capital Management Corp bought a new stake in shares of Five Prime Therapeutics during the third quarter valued at approximately $341,000. Teacher Retirement System of Texas bought a new stake in Five Prime Therapeutics during the fourth quarter worth approximately $221,000. Virtu KCG Holdings LLC bought a new stake in Five Prime Therapeutics during the second quarter worth approximately $331,000. Finally, Voya Investment Management LLC raised its holdings in Five Prime Therapeutics by 9.5% during the second quarter. Voya Investment Management LLC now owns 12,594 shares of the biotechnology company’s stock worth $379,000 after purchasing an additional 1,097 shares in the last quarter. 72.14% of the stock is currently owned by institutional investors.
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Five Prime Therapeutics Company Profile
Five Prime Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include Cabiralizumab (FPA008), which is an antibody that inhibits colony stimulating factor-1 receptor, that it is studying in clinical trials as a monotherapy in pigmented villonodular synovitis, and in multiple cancers in combination with programmed-death 1 immune checkpoint inhibitor, Opdivo; FPA144, which is an antibody that inhibits fibroblast growth factor receptor 2b, that it is initially developing to treat patients with gastric (stomach) cancer and is in a Phase I clinical trial, and FP-1039, which is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors, involved in cancer cell proliferation and new blood vessel formation and is in Phase Ib clinical development to treat patients with malignant pleural mesothelioma.
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