Analysts Set Fate Therapeutics Inc (FATE) Price Target at $18.83
Fate Therapeutics Inc (NASDAQ:FATE) has earned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.83.
A number of equities research analysts have recently weighed in on the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 price target on shares of Fate Therapeutics in a report on Tuesday, September 25th. BidaskClub upgraded Fate Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Wedbush reiterated an “outperform” rating and issued a $19.00 price target on shares of Fate Therapeutics in a report on Tuesday, August 7th. Finally, HC Wainwright reiterated a “hold” rating and issued a $12.00 price target on shares of Fate Therapeutics in a report on Tuesday, August 7th.
In other news, Director Redmile Group, Llc purchased 3,703,704 shares of the stock in a transaction dated Tuesday, September 25th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.89% of the stock is currently owned by insiders.
FATE stock traded up $0.21 during midday trading on Friday, hitting $13.51. 656,579 shares of the company’s stock were exchanged, compared to its average volume of 648,599. Fate Therapeutics has a 12-month low of $3.50 and a 12-month high of $16.94. The company has a quick ratio of 4.92, a current ratio of 4.92 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $870.20 million, a PE ratio of -13.25 and a beta of 1.72.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). Fate Therapeutics had a negative net margin of 1,387.53% and a negative return on equity of 95.07%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.02 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fate Therapeutics will post -1.16 EPS for the current year.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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