Forty Seven (NASDAQ:FTSV)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $18.00 price target on the stock, up from their previous price target of $15.00. Credit Suisse Group’s target price suggests a potential downside of 40.85% from the stock’s previous close.
A number of other research firms have also issued reports on FTSV. ValuEngine raised shares of Forty Seven from a “hold” rating to a “buy” rating in a research report on Tuesday, November 26th. Guggenheim assumed coverage on shares of Forty Seven in a research note on Wednesday, November 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Oppenheimer cut their target price on shares of Forty Seven from $35.00 to $20.00 in a research report on Wednesday, August 14th. Zacks Investment Research lowered shares of Forty Seven from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of Forty Seven in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.22.
Shares of FTSV stock opened at $30.43 on Thursday. The company has a market capitalization of $610.47 million, a price-to-earnings ratio of -8.11 and a beta of 2.44. Forty Seven has a 1-year low of $5.53 and a 1-year high of $31.38. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $10.17 and its 200-day simple moving average is $9.09.
In related news, Director Ravindra Majeti sold 5,000 shares of Forty Seven stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.50, for a total value of $62,500.00. Following the completion of the sale, the director now owns 1,201,400 shares of the company’s stock, valued at approximately $15,017,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Redmile Group LLC raised its stake in shares of Forty Seven by 595.5% in the 3rd quarter. Redmile Group LLC now owns 1,627,498 shares of the company’s stock valued at $10,449,000 after acquiring an additional 1,393,498 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Forty Seven by 48.4% during the second quarter. JPMorgan Chase & Co. now owns 379,731 shares of the company’s stock valued at $3,953,000 after purchasing an additional 123,921 shares during the last quarter. Vanguard Group Inc. grew its holdings in Forty Seven by 1.2% during the second quarter. Vanguard Group Inc. now owns 499,451 shares of the company’s stock valued at $5,294,000 after purchasing an additional 5,741 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Forty Seven by 2.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 709,796 shares of the company’s stock valued at $7,524,000 after purchasing an additional 14,591 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Forty Seven in the second quarter valued at approximately $279,000. 54.31% of the stock is currently owned by institutional investors and hedge funds.
About Forty Seven
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; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.
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