Forty Seven (NASDAQ:FTSV) Downgraded by Zacks Investment Research to Sell
According to Zacks, “Forty Seven, Inc. is a clinical-stage immuno-oncology company. It focused on developing novel checkpoint therapies to activate macrophages in the fight against cancer. The company’s product candidate consists of 5F9, is an IgG4 monoclonal antibody against CD47 which is designed to interfere with recognition of CD47 by the SIRP? receptor on macrophages. Forty Seven, Inc. is based in CA, United States. “
A number of other analysts have also recently commented on FTSV. ValuEngine upgraded Forty Seven from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Forty Seven in a research note on Wednesday. Oppenheimer decreased their price target on Forty Seven from $35.00 to $20.00 in a research note on Wednesday, August 14th. Finally, Mizuho reissued a “buy” rating and issued a $18.00 price target on shares of Forty Seven in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Forty Seven currently has an average rating of “Buy” and a consensus price target of $23.14.
Forty Seven (NASDAQ:FTSV) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.38) EPS for the quarter, hitting analysts’ consensus estimates of ($0.38). The company had revenue of $15.68 million for the quarter, compared to analysts’ expectations of $15.80 million. On average, sell-side analysts expect that Forty Seven will post -2.33 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of FTSV. Tower Research Capital LLC TRC boosted its stake in 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 worth $27,000 after buying an additional 4,064 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in Forty Seven in the 2nd quarter worth about $35,000. SG Americas Securities LLC acquired a new stake in Forty Seven in the 3rd quarter worth about $73,000. Metropolitan Life Insurance Co NY acquired a new stake in Forty Seven in the 1st quarter worth about $88,000. Finally, Swiss National Bank acquired a new stake in Forty Seven in the 2nd quarter worth about $184,000. 35.84% of the stock is currently owned by hedge funds and other institutional investors.
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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