Forty Seven Inc (NASDAQ:FTSV) – Analysts at Oppenheimer lowered their Q3 2019 earnings estimates for Forty Seven in a note issued to investors on Monday, May 13th. Oppenheimer analyst M. Breidenbach now forecasts that the company will earn ($0.77) per share for the quarter, down from their prior forecast of ($0.76). Oppenheimer has a “Buy” rating on the stock. Oppenheimer also issued estimates for Forty Seven’s Q4 2019 earnings at ($0.70) EPS, FY2019 earnings at ($2.98) EPS, Q1 2020 earnings at ($0.70) EPS, Q2 2020 earnings at ($0.70) EPS, Q3 2020 earnings at ($0.71) EPS, Q4 2020 earnings at ($0.71) EPS, FY2020 earnings at ($2.82) EPS, FY2021 earnings at ($0.80) EPS, FY2022 earnings at $2.13 EPS and FY2023 earnings at $4.31 EPS.

FTSV has been the subject of several other research reports. Zacks Investment Research raised Forty Seven from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, May 8th. HC Wainwright set a $21.00 price target on Forty Seven and gave the company a “buy” rating in a report on Tuesday. FIG Partners began coverage on Forty Seven in a report on Friday, February 1st. They set a “buy” rating and a $30.00 price target for the company. Finally, Guggenheim began coverage on Forty Seven in a report on Friday, April 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.75.

NASDAQ:FTSV opened at $15.83 on Thursday. Forty Seven has a 52-week low of $12.02 and a 52-week high of $23.83. The stock has a market cap of $557.56 million and a price-to-earnings ratio of -4.22.

Forty Seven (NASDAQ:FTSV) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.14).

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new position in shares of Forty Seven in the first quarter worth about $32,000. BNP Paribas Arbitrage SA bought a new position in shares of Forty Seven in the first quarter worth about $48,000. Citigroup Inc. boosted its stake in shares of Forty Seven by 173.8% in the first quarter. Citigroup Inc. now owns 4,189 shares of the company’s stock worth $68,000 after acquiring an additional 2,659 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Forty Seven in the fourth quarter worth about $70,000. Finally, New York State Common Retirement Fund bought a new position in shares of Forty Seven in the fourth quarter worth about $101,000. 43.70% of the stock is owned by hedge funds and other institutional investors.

In other Forty Seven news, Director Ravindra Majeti sold 35,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $17.83, for a total transaction of $624,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Anthony Mccamish sold 16,500 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $14.99, for a total value of $247,335.00. The disclosure for this sale can be found here. Insiders have sold 191,884 shares of company stock valued at $3,348,369 in the last three months. 37.40% of the stock is currently owned by corporate insiders.

About Forty Seven

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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Earnings History and Estimates for Forty Seven (NASDAQ:FTSV)

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