Roth Capital Comments on Fate Therapeutics Inc.’s FY2016 Earnings (FATE)
Fate Therapeutics Inc. (NASDAQ:FATE) – Equities research analysts at Roth Capital upped their FY2016 earnings per share estimates for shares of Fate Therapeutics in a research report issued on Tuesday. Roth Capital analyst M. Breidenbach now anticipates that the firm will post earnings per share of ($1.13) for the year, up from their prior estimate of ($1.17). Roth Capital has a “Buy” rating and a $8.00 price objective on the stock. Roth Capital also issued estimates for Fate Therapeutics’ Q4 2016 earnings at ($0.27) EPS, Q1 2017 earnings at ($0.24) EPS, Q2 2017 earnings at ($0.24) EPS, Q3 2017 earnings at ($0.25) EPS, Q4 2017 earnings at ($0.26) EPS, FY2017 earnings at ($0.99) EPS, FY2018 earnings at ($1.03) EPS, FY2019 earnings at ($1.14) EPS and FY2020 earnings at ($0.46) EPS.
A number of other analysts have also issued reports on the stock. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Thursday, August 11th. HC Wainwright started coverage on shares of Fate Therapeutics in a research note on Thursday, July 28th. They set a “buy” rating and a $9.00 target price for the company. BMO Capital Markets set a $4.00 target price on shares of Fate Therapeutics and gave the company a “buy” rating in a research note on Monday, August 8th. Finally, Wedbush lowered their target price on shares of Fate Therapeutics from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.79.
Shares of Fate Therapeutics (NASDAQ:FATE) opened at 2.15 on Thursday. The company’s 50-day moving average is $2.60 and its 200 day moving average is $2.19. Fate Therapeutics has a 12 month low of $1.46 and a 12 month high of $4.76. The stock’s market capitalization is $62.12 million.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. Fate Therapeutics had a negative net margin of 740.69% and a negative return on equity of 107.66%.
Hedge funds have recently added to or reduced their stakes in the stock. Board of Trustees of The Leland Stanford Junior University purchased a new stake in Fate Therapeutics during the second quarter valued at $495,000. Jacobs Levy Equity Management Inc. increased its stake in Fate Therapeutics by 448.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 204,447 shares of the biopharmaceutical company’s stock valued at $368,000 after buying an additional 167,194 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Fate Therapeutics during the second quarter valued at $137,000. Vanguard Group Inc. increased its stake in Fate Therapeutics by 3.5% in the second quarter. Vanguard Group Inc. now owns 657,573 shares of the biopharmaceutical company’s stock valued at $1,118,000 after buying an additional 22,098 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Fate Therapeutics by 26.2% in the second quarter. BlackRock Fund Advisors now owns 75,572 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 15,701 shares in the last quarter. Hedge funds and other institutional investors own 41.14% of the company’s stock.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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