Zacks Investment Research lowered shares of Forty Seven (NASDAQ:FTSV) from a hold rating to a sell rating in a research report released on Monday.

According to Zacks, “Forty Seven, Inc. is a clinical-stage immuno-oncology company. It focused on developing novel checkpoint therapies to activate macrophages in the fight against cancer. The company’s product candidate consists of 5F9, is an IgG4 monoclonal antibody against CD47 which is designed to interfere with recognition of CD47 by the SIRP? receptor on macrophages. Forty Seven, Inc. is based in CA, United States. “

Several other equities research analysts have also commented on FTSV. Canaccord Genuity started coverage on Forty Seven in a research note on Monday, July 23rd. They set a buy rating and a $22.00 price target on the stock. Morgan Stanley started coverage on Forty Seven in a research note on Monday, July 23rd. They set an overweight rating and a $25.00 price target on the stock. Credit Suisse Group started coverage on Forty Seven in a research note on Monday, July 23rd. They set an outperform rating and a $24.00 price target on the stock. Finally, Oppenheimer started coverage on Forty Seven in a research note on Monday, July 23rd. They set an outperform rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Forty Seven has an average rating of Buy and an average target price of $26.50.

Shares of FTSV opened at $13.30 on Monday. Forty Seven has a twelve month low of $12.50 and a twelve month high of $16.86.

Forty Seven (NASDAQ:FTSV) last announced its quarterly earnings data on Monday, August 13th. The company reported ($2.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($1.84). sell-side analysts predict that Forty Seven will post -2.96 EPS for the current year.

In related news, major shareholder Lifesciences Iii L.P. Clarus acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $3,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher J. Schaepe acquired 468,750 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were bought at an average price of $16.00 per share, with a total value of $7,500,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,106,300 shares of company stock worth $17,427,395 in the last three months.

Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in shares of Forty Seven during the 2nd quarter worth approximately $120,000. Waddell & Reed Financial Inc. acquired a new position in shares of Forty Seven during the 2nd quarter worth approximately $160,000. Janus Henderson Group PLC acquired a new position in shares of Forty Seven during the 2nd quarter worth approximately $160,000. DAFNA Capital Management LLC acquired a new position in shares of Forty Seven during the 2nd quarter worth approximately $160,000. Finally, TD Asset Management Inc. acquired a new position in shares of Forty Seven during the 2nd quarter worth approximately $215,000. Hedge funds and other institutional investors own 41.05% 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.

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