Guggenheim reaffirmed their buy rating on shares of Forty Seven (NASDAQ:FTSV) in a research report report published on Wednesday morning, The Fly reports. They currently have a $48.00 price objective on the stock, up from their previous price objective of $20.00.
FTSV has been the topic of several other research reports. Zacks Investment Research downgraded Forty Seven from a hold rating to a sell rating in a research report on Friday, November 15th. Mizuho reissued a buy rating and issued a $37.00 price objective (up from $18.00) on shares of Forty Seven in a research note on Tuesday. ValuEngine lowered Forty Seven from a hold rating to a sell rating in a report on Tuesday. HC Wainwright restated a buy rating and issued a $36.00 price objective (up previously from $21.00) on shares of Forty Seven in a report on Tuesday. Finally, Citigroup lifted their target price on shares of Forty Seven from $20.00 to $35.00 and gave the stock an outperform rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $32.09.
Shares of FTSV traded up $2.69 during mid-day trading on Wednesday, hitting $38.65. 2,082,171 shares of the company were exchanged, compared to its average volume of 925,816. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -10.31 and a beta of 2.49. Forty Seven has a 1-year low of $5.53 and a 1-year high of $36.73. The company has a 50 day moving average of $11.33 and a 200-day moving average of $9.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.48 and a current ratio of 7.48.
In related news, Director Ravindra Majeti sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.50, for a total transaction of $62,500.00. Following the completion of the sale, the director now directly owns 1,201,400 shares in the company, valued at $15,017,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris H. Takimoto sold 10,000 shares of Forty Seven 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 transaction, the insider now directly owns 10,000 shares in the company, valued at $300,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $840,800. Insiders own 37.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Redmile Group LLC raised its position in Forty Seven by 595.5% in the third quarter. Redmile Group LLC now owns 1,627,498 shares of the company’s stock valued at $10,449,000 after purchasing an additional 1,393,498 shares during the period. JPMorgan Chase & Co. raised its holdings in Forty Seven by 48.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,731 shares of the company’s stock valued at $3,953,000 after buying an additional 123,921 shares during the period. Vanguard Group Inc. raised its holdings in Forty Seven by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 499,451 shares of the company’s stock valued at $5,294,000 after buying an additional 5,741 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Forty Seven by 2.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 709,796 shares of the company’s stock valued at $7,524,000 after buying an additional 14,591 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Forty Seven in the second quarter valued at about $279,000. Institutional investors and hedge funds own 54.31% of the company’s stock.
About Forty Seven
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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