Forty Seven’s (FTSV) “Buy” Rating Reaffirmed at HC Wainwright

Forty Seven (NASDAQ:FTSV)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, AnalystRatings.com reports. They presently have a $21.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 96.45% from the stock’s current price.

FTSV has been the subject of a number of other research reports. Mizuho restated a “buy” rating and issued a $18.00 price target on shares of Forty Seven in a report on Tuesday, November 12th. Zacks Investment Research cut Forty Seven from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. ValuEngine upgraded Forty Seven from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Oppenheimer decreased their price target on Forty Seven from $35.00 to $20.00 in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $23.14.

FTSV stock traded up $0.28 during trading on Wednesday, hitting $10.69. The stock had a trading volume of 232,200 shares, compared to its average volume of 261,437. The stock has a market cap of $440.10 million, a price-to-earnings ratio of -2.85 and a beta of 1.90. Forty Seven has a 1-year low of $5.53 and a 1-year high of $23.83. The company’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $9.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.96 and a current ratio of 7.48.

Forty Seven (NASDAQ:FTSV) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.38) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.38). The company had revenue of $15.68 million during the quarter, compared to analysts’ expectations of $15.80 million. As a group, sell-side analysts forecast that Forty Seven will post -2.63 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FTSV. Tower Research Capital LLC TRC raised its position in shares of Forty Seven by 5,976.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,132 shares of the company’s stock valued at $27,000 after purchasing an additional 4,064 shares in the last quarter. River & Mercantile Asset Management LLP acquired a new position in shares of Forty Seven in the 2nd quarter valued at approximately $35,000. SG Americas Securities LLC acquired a new position in shares of Forty Seven in the 3rd quarter valued at approximately $73,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Forty Seven in the 1st quarter valued at approximately $88,000. Finally, Swiss National Bank acquired a new position in shares of Forty Seven in the 2nd quarter valued at approximately $184,000. 35.84% of the stock is currently owned by 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; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.

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Analyst Recommendations for Forty Seven (NASDAQ:FTSV)

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