Zacks Investment Research cut shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) from a buy rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Five Prime Therapeutics, Inc. is a biotechnology company. The company focuses on the discovery and development of protein therapeutics that blocks cancer and inflammatory disease processes. It operates primarily in the United States and Canada. Five Prime Therapeutics, Inc. is based in San Francisco, California. “
A number of other equities analysts have also commented on the company. Royal Bank Of Canada raised their price objective on Five Prime Therapeutics from $41.00 to $50.00 and gave the stock an outperform rating in a research note on Monday, November 6th. BMO Capital Markets upgraded Five Prime Therapeutics from a market perform rating to an outperform rating in a research note on Monday, October 16th. BidaskClub lowered Five Prime Therapeutics from a sell rating to a strong sell rating in a research note on Wednesday, August 2nd. ValuEngine upgraded Five Prime Therapeutics from a strong sell rating to a sell rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC restated a buy rating and set a $52.00 price objective (down previously from $55.00) on shares of Five Prime Therapeutics in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Five Prime Therapeutics presently has an average rating of Hold and an average price target of $64.00.
Shares of Five Prime Therapeutics (FPRX) traded up $1.06 during midday trading on Thursday, hitting $28.83. The stock had a trading volume of 1,603,400 shares, compared to its average volume of 805,477. Five Prime Therapeutics has a one year low of $21.41 and a one year 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 Zacks’ consensus estimate of ($1.35) by ($0.19). The firm had revenue of $8.33 million for the quarter, compared to the consensus estimate of $16.16 million. Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. Five Prime Therapeutics’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.72) EPS. research analysts expect that Five Prime Therapeutics will post -5.56 EPS for the current year.
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In other Five Prime Therapeutics news, Director William R. Ringo sold 1,800 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.26, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William R. Ringo sold 600 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $45.33, for a total value of $27,198.00. Following the completion of the sale, the director now directly owns 600 shares in the company, valued at approximately $27,198. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,400 shares of company stock worth $175,666. Corporate insiders own 6.50% of the company’s stock.
Several hedge funds have recently modified their holdings of FPRX. Creative Planning boosted its holdings in shares of Five Prime Therapeutics by 0.8% in the 2nd quarter. Creative Planning now owns 6,744 shares of the biotechnology company’s stock valued at $203,000 after purchasing an additional 54 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new stake in shares of Five Prime Therapeutics in the 2nd quarter valued at $210,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Five Prime Therapeutics in the 3rd quarter valued at $223,000. Legal & General Group Plc boosted its holdings in shares of Five Prime Therapeutics by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 9,455 shares of the biotechnology company’s stock valued at $288,000 after purchasing an additional 287 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of Five Prime Therapeutics by 56.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 8,033 shares of the biotechnology company’s stock valued at $290,000 after purchasing an additional 2,910 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
About Five Prime Therapeutics
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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