Forty Seven (NASDAQ:FTSV) had its price objective lifted by research analysts at Citigroup from $20.00 to $35.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Citigroup‘s target price suggests a potential upside of 1.00% from the stock’s current price.
A number of other research firms have also weighed in on FTSV. Credit Suisse Group restated an “outperform” rating and set a $18.00 price target (up from $15.00) on shares of Forty Seven in a research report on Thursday, December 5th. Mizuho reaffirmed a “buy” rating and set a $37.00 price objective (up previously from $18.00) on shares of Forty Seven in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Forty Seven in a report on Wednesday, November 13th. ValuEngine lowered shares of Forty Seven from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, BTIG Research raised their target price on shares of Forty Seven to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $32.09.
Shares of FTSV stock opened at $34.66 on Tuesday. Forty Seven has a fifty-two week low of $5.53 and a fifty-two week high of $35.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.48 and a current ratio of 7.48. The stock’s fifty day moving average is $10.74 and its two-hundred day moving average is $9.20. The firm has a market capitalization of $610.47 million, a P/E ratio of -9.24 and a beta of 2.44.
In related news, Director Ravindra Majeti sold 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.26, for a total value of $153,900.00. Following the completion of the sale, the director now owns 1,221,400 shares of the company’s stock, valued at $12,531,564. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris H. Takimoto sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider now owns 10,000 shares of the company’s stock, valued at $300,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $840,800. Corporate insiders own 37.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. River & Mercantile Asset Management LLP purchased a new stake in shares of Forty Seven during the 2nd quarter valued at approximately $35,000. Tower Research Capital LLC TRC increased its stake in Forty Seven by 5,976.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,132 shares of the company’s stock worth $27,000 after acquiring an additional 4,064 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Forty Seven during the first quarter worth $88,000. SG Americas Securities LLC purchased a new stake in Forty Seven in the third quarter valued at $73,000. Finally, Swiss National Bank purchased a new stake in Forty Seven in the second quarter valued at $184,000. Institutional investors own 54.31% 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; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.
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