Forty Seven (FTSV) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright assumed coverage on shares of Forty Seven (NASDAQ:FTSV) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $21.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 13.02% from the company’s current price.

The analysts wrote, “We are initiating coverage of 12- month price target of $21.00 per share. We derive our price target based on a risk-based NPV (rNPV) analysis of projected 5F9 revenues through 2030 assuming a 12% discount rate and 3% terminal growth rate.””

A number of other analysts have also commented on the company. Morgan Stanley lifted their price objective on Forty Seven from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered Forty Seven from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Finally, ValuEngine upgraded Forty Seven from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Forty Seven currently has a consensus rating of “Buy” and a consensus price target of $25.60.

Shares of FTSV stock opened at $18.58 on Friday. Forty Seven has a 12 month low of $12.02 and a 12 month high of $19.00.

Forty Seven (NASDAQ:FTSV) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.17). As a group, sell-side analysts predict that Forty Seven will post -3.11 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new position in Forty Seven during the second quarter worth about $120,000. Teachers Advisors LLC bought a new position in Forty Seven during the third quarter worth about $157,000. Waddell & Reed Financial Inc. bought a new position in Forty Seven during the second quarter worth about $160,000. Janus Henderson Group PLC bought a new position in Forty Seven during the second quarter worth about $160,000. Finally, DAFNA Capital Management LLC bought a new position in Forty Seven during the second quarter worth about $160,000. Hedge funds and other institutional investors own 43.65% 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; and FSI-189, an antibody that binds to SIRPa for the treatment of solid tumors.

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Analyst Recommendations for Forty Seven (NASDAQ:FTSV)

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