Five Prime Therapeutics Inc (NASDAQ:FPRX) Expected to Post Quarterly Sales of $4.33 Million

Brokerages forecast that Five Prime Therapeutics Inc (NASDAQ:FPRX) will post $4.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Five Prime Therapeutics’ earnings, with the lowest sales estimate coming in at $2.83 million and the highest estimate coming in at $5.80 million. Five Prime Therapeutics reported sales of $5.77 million during the same quarter last year, which indicates a negative year over year growth rate of 25%. The firm is scheduled to report its next earnings results on Tuesday, November 5th.

On average, analysts expect that Five Prime Therapeutics will report full-year sales of $17.37 million for the current year, with estimates ranging from $8.70 million to $26.00 million. For the next financial year, analysts expect that the firm will post sales of $51.25 million, with estimates ranging from $20.00 million to $139.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Five Prime Therapeutics.

Five Prime Therapeutics (NASDAQ:FPRX) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.09). The business had revenue of $3.33 million during the quarter, compared to analyst estimates of $5.53 million. Five Prime Therapeutics had a negative return on equity of 62.13% and a negative net margin of 842.84%.

FPRX has been the subject of several recent analyst reports. Roth Capital initiated coverage on Five Prime Therapeutics in a report on Wednesday, May 29th. They issued a “neutral” rating and a $10.00 price target for the company. ValuEngine raised Five Prime Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Five Prime Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Co downgraded Five Prime Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $35.00 to $10.00 in a report on Monday, June 3rd. Finally, BidaskClub downgraded Five Prime Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Five Prime Therapeutics presently has a consensus rating of “Hold” and an average target price of $20.00.

Several institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in Five Prime Therapeutics by 1,691.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,374 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 5,074 shares during the period. Alambic Investment Management L.P. acquired a new position in Five Prime Therapeutics in the second quarter valued at approximately $69,000. Bailard Inc. lifted its holdings in Five Prime Therapeutics by 23.8% in the second quarter. Bailard Inc. now owns 13,000 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 2,500 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Five Prime Therapeutics by 1,929.9% in the first quarter. BNP Paribas Arbitrage SA now owns 7,328 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 6,967 shares during the period. Finally, Athanor Capital LP acquired a new position in Five Prime Therapeutics in the second quarter valued at approximately $104,000. 81.75% of the stock is owned by hedge funds and other institutional investors.

NASDAQ FPRX traded up $0.11 during trading on Friday, hitting $5.92. The company’s stock had a trading volume of 1,822 shares, compared to its average volume of 339,804. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.87 and a quick ratio of 10.41. The company has a market cap of $210.76 million, a PE ratio of -1.44 and a beta of 2.58. The business’s 50 day simple moving average is $5.58 and its 200-day simple moving average is $9.34. Five Prime Therapeutics has a fifty-two week low of $4.89 and a fifty-two week high of $16.00.

Five Prime Therapeutics Company Profile

Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of innovative protein therapeutics. The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, which is in Phase III clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein that enhances co-stimulation of T cells through CD28.

Read More: What are popular green investing opportunities?

Get a free copy of the Zacks research report on Five Prime Therapeutics (FPRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Five Prime Therapeutics (NASDAQ:FPRX)

Receive News & Ratings for Five Prime Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Five Prime Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit