Fate Therapeutics, Inc. (FATE) Forecasted to Post Q3 2017 Earnings of ($0.24) Per Share
Fate Therapeutics, Inc. (NASDAQ:FATE) – Analysts at Wedbush lifted their Q3 2017 earnings per share (EPS) estimates for shares of Fate Therapeutics in a report issued on Tuesday. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn ($0.24) per share for the quarter, up from their previous estimate of ($0.26). Wedbush currently has a “Outperform” rating and a $7.00 target price on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2017 earnings at ($0.25) EPS, FY2017 earnings at ($0.97) EPS, Q1 2018 earnings at ($0.18) EPS, Q2 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.28) EPS, Q4 2018 earnings at ($0.32) EPS, FY2018 earnings at ($1.01) EPS, FY2019 earnings at ($0.68) EPS, FY2020 earnings at $0.14 EPS and FY2021 earnings at $2.38 EPS.
Several other research analysts have also recently commented on FATE. Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Thursday. ValuEngine cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $6.30.
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Fate Therapeutics (FATE) opened at 3.02 on Thursday. Fate Therapeutics has a 12 month low of $1.80 and a 12 month high of $5.68. The firm’s market cap is $125.07 million. The company’s 50-day moving average is $3.04 and its 200 day moving average is $3.69.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million. Fate Therapeutics had a negative net margin of 887.68% and a negative return on equity of 67.01%.
Hedge funds have recently bought and sold shares of the company. Creative Planning boosted its stake in Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 6,000 shares in the last quarter. KCG Holdings Inc. boosted its stake in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,764 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Fate Therapeutics during the second quarter valued at approximately $131,000. Rhumbline Advisers bought a new stake in Fate Therapeutics during the second quarter valued at approximately $133,000. Finally, Driehaus Capital Management LLC bought a new stake in Fate Therapeutics during the first quarter valued at approximately $145,000. Institutional investors and hedge funds own 61.15% of the company’s stock.
About Fate Therapeutics
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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