Royal Bank Of Canada Boosts Five Prime Therapeutics, Inc. (FPRX) Price Target to $50.00
Five Prime Therapeutics, Inc. (NASDAQ:FPRX) had its price target hoisted by Royal Bank Of Canada from $41.00 to $50.00 in a research report report published on Monday, Marketbeat.com reports. They currently have an outperform rating on the biotechnology company’s stock.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Five Prime Therapeutics from a sell rating to a buy rating and set a $49.00 price objective on the stock in a research report on Monday, October 16th. ValuEngine raised shares of Five Prime Therapeutics from a strong sell rating to a sell rating in a research report on Friday, September 1st. BMO Capital Markets reissued a hold rating and issued a $39.00 price objective on shares of Five Prime Therapeutics in a research report on Friday, September 22nd. BidaskClub downgraded shares of Five Prime Therapeutics from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a buy rating and issued a $52.00 price objective on shares of Five Prime Therapeutics in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $64.00.
Shares of Five Prime Therapeutics (FPRX) traded down $4.04 during mid-day trading on Monday, hitting $26.40. 495,209 shares of the stock traded hands, compared to its average volume of 636,075. Five Prime Therapeutics has a 52-week low of $21.41 and a 52-week high of $60.98.
Five Prime Therapeutics (NASDAQ:FPRX) last announced its earnings results on Monday, November 6th. The biotechnology company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.19). Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. The business had revenue of $8.33 million for the quarter, compared to analysts’ expectations of $16.16 million. During the same period in the previous year, the company earned ($0.72) earnings per share. Five Prime Therapeutics’s quarterly revenue was up 24.7% on a year-over-year basis. research analysts anticipate that Five Prime Therapeutics will post -5.5 earnings per share for the current year.
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In related news, Director William R. Ringo sold 600 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $45.33, for a total transaction of $27,198.00. Following the completion of the sale, the director now owns 600 shares in the company, valued at approximately $27,198. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William R. Ringo sold 1,800 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.26, for a total transaction of $72,468.00. Following the sale, the director now owns 1,200 shares of the company’s stock, valued at approximately $48,312. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,400 shares of company stock valued at $175,666. 6.50% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of FPRX. Renaissance Technologies LLC acquired a new stake in Five Prime Therapeutics during the 1st quarter worth $16,734,000. State Street Corp lifted its stake in shares of Five Prime Therapeutics by 25.7% in the 1st quarter. State Street Corp now owns 1,249,520 shares of the biotechnology company’s stock worth $45,175,000 after acquiring an additional 255,488 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Five Prime Therapeutics by 162.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 298,395 shares of the biotechnology company’s stock worth $8,984,000 after acquiring an additional 184,888 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of Five Prime Therapeutics by 51.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 468,088 shares of the biotechnology company’s stock worth $19,150,000 after acquiring an additional 158,863 shares during the period. Finally, Artal Group S.A. acquired a new stake in shares of Five Prime Therapeutics in the 2nd quarter worth $4,517,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Five Prime Therapeutics Company Profile
Five Prime Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include Cabiralizumab (FPA008), which is an antibody that inhibits colony stimulating factor-1 receptor, that it is studying in clinical trials as a monotherapy in pigmented villonodular synovitis, and in multiple cancers in combination with programmed-death 1 immune checkpoint inhibitor, Opdivo; FPA144, which is an antibody that inhibits fibroblast growth factor receptor 2b, that it is initially developing to treat patients with gastric (stomach) cancer and is in a Phase I clinical trial, and FP-1039, which is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors, involved in cancer cell proliferation and new blood vessel formation and is in Phase Ib clinical development to treat patients with malignant pleural mesothelioma.
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