Forty Seven (NASDAQ:FTSV) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Forty Seven (NASDAQ:FTSV) from a hold rating to a buy rating in a research note issued to investors on Friday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Forty Seven from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Tuesday, May 14th. Roth Capital initiated coverage on Forty Seven in a research note on Wednesday, May 29th. They set a buy rating and a $28.00 target price for the company. HC Wainwright set a $21.00 target price on Forty Seven and gave the stock a buy rating in a research note on Friday, July 12th. Finally, Oppenheimer cut their target price on Forty Seven from $35.00 to $20.00 in a research note on Wednesday. Nine investment analysts have rated the stock with a buy rating, Forty Seven has a consensus rating of Buy and an average target price of $25.86.

FTSV stock remained flat at $$6.40 during midday trading on Friday. The company’s stock had a trading volume of 418,100 shares, compared to its average volume of 463,470. The company’s fifty day simple moving average is $9.15 and its 200-day simple moving average is $13.75. The stock has a market capitalization of $208.85 million, a PE ratio of -1.71 and a beta of 1.86. Forty Seven has a one year low of $6.04 and a one year high of $23.83.

Forty Seven (NASDAQ:FTSV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.05). Analysts expect that Forty Seven will post -2.54 earnings per share for the current year.

In other news, insider Mark Anthony Mccamish sold 8,199 shares of Forty Seven stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $11.02, for a total value of $90,352.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Bird acquired 750,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was purchased at an average cost of $8.00 per share, with a total value of $6,000,000.00. The disclosure for this purchase can be found here. Insiders sold 33,000 shares of company stock valued at $381,646 over the last ninety days. Insiders own 37.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Forty Seven by 89.5% during the 4th quarter. BlackRock Inc. now owns 845,954 shares of the company’s stock valued at $13,298,000 after buying an additional 399,591 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Forty Seven by 89.5% during the 4th quarter. Bank of New York Mellon Corp now owns 24,824 shares of the company’s stock valued at $390,000 after buying an additional 11,723 shares in the last quarter. Northern Trust Corp lifted its position in shares of Forty Seven by 388.3% during the 4th quarter. Northern Trust Corp now owns 88,769 shares of the company’s stock valued at $1,396,000 after buying an additional 70,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Forty Seven by 103.0% during the 4th quarter. Geode Capital Management LLC now owns 88,165 shares of the company’s stock valued at $1,385,000 after buying an additional 44,735 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Forty Seven by 177.3% during the 4th quarter. Bank of America Corp DE now owns 9,757 shares of the company’s stock valued at $153,000 after buying an additional 6,239 shares in the last quarter. 47.47% of the stock is owned by hedge funds and other institutional investors.

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; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.

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Analyst Recommendations for Forty Seven (NASDAQ:FTSV)

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