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.
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.
Read More: What is a conference call?
Receive News & Ratings for Forty Seven Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forty Seven and related companies with MarketBeat.com's FREE daily email newsletter.