Zacks: Analysts Set $27.33 Price Target for Forty Seven Inc (FTSV)

Forty Seven Inc (NASDAQ:FTSV) has been assigned an average broker rating score of 1.17 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company.

Brokerages have set a 1 year consensus target price of $27.33 for the company and are forecasting that the company will post ($0.56) EPS for the current quarter, according to Zacks. Zacks has also assigned Forty Seven an industry rank of 81 out of 255 based on the ratings given to its competitors.

Several brokerages have recently commented on FTSV. Zacks Investment Research raised shares of Forty Seven from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Oppenheimer assumed coverage on shares of Forty Seven in a report on Monday, July 23rd. They set an “outperform” rating and a $35.00 target price on the stock. Credit Suisse Group assumed coverage on shares of Forty Seven in a research note on Monday, July 23rd. They issued an “outperform” rating and a $24.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Forty Seven in a research note on Monday, July 23rd. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on shares of Forty Seven in a research note on Monday, July 23rd. They issued a “buy” rating and a $22.00 price objective on the stock.

Shares of FTSV opened at $13.30 on Thursday. Forty Seven has a 12 month low of $12.16 and a 12 month high of $16.86.

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

In related news, major shareholder Ravi Mhatre bought 166,858 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of $15.08 per share, with a total value of $2,516,218.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher J. Schaepe bought 66,542 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $15.03 per share, for a total transaction of $1,000,126.26. The disclosure for this purchase can be found here. Insiders purchased 300,900 shares of company stock worth $4,540,995 over the last three months.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in shares of Forty Seven during the second quarter worth $120,000. Waddell & Reed Financial Inc. bought a new stake in shares of Forty Seven during the second quarter worth $160,000. DAFNA Capital Management LLC bought a new stake in shares of Forty Seven during the second quarter worth $160,000. Janus Henderson Group PLC bought a new stake in shares of Forty Seven during the second quarter worth $160,000. Finally, TD Asset Management Inc. bought a new stake in shares of Forty Seven during the second quarter worth $215,000. 41.05% of the stock is currently owned by hedge funds and other institutional investors.

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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