Forty Seven (NASDAQ:FTSV) Stock Rating Upgraded by ValuEngine

Forty Seven (NASDAQ:FTSV) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

A number of other brokerages have also recently issued reports on FTSV. Mizuho cut Forty Seven from a “buy” rating to a “neutral” rating and set a $95.50 price objective for the company. in a report on Wednesday, March 4th. Citigroup lifted their price objective on Forty Seven from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Zacks Investment Research raised Forty Seven from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective for the company in a report on Friday, March 27th. Guggenheim cut Forty Seven from a “buy” rating to a “neutral” rating in a report on Tuesday, March 3rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $40.00 price target on shares of Forty Seven in a report on Tuesday, December 10th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $69.86.

Shares of NASDAQ FTSV traded up $0.05 during midday trading on Thursday, reaching $95.51. 693,725 shares of the company traded hands, compared to its average volume of 1,607,076. The firm has a market cap of $4.60 billion, a PE ratio of -38.67 and a beta of 0.40. The stock’s 50-day simple moving average is $77.63 and its 200-day simple moving average is $36.04. Forty Seven has a 12 month low of $5.53 and a 12 month high of $95.51.

In related news, CFO Ann D. Rhoads sold 1,924 shares of Forty Seven stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $95.43, for a total value of $183,607.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris H. Takimoto sold 79,195 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $95.42, for a total value of $7,556,786.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 360,601 shares of company stock valued at $31,517,983. Corporate insiders own 37.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Forty Seven by 43.4% during the 4th quarter. Bank of Montreal Can now owns 2,797 shares of the company’s stock worth $110,000 after buying an additional 847 shares during the period. Victory Capital Management Inc. grew its position in shares of Forty Seven by 29.1% during the 4th quarter. Victory Capital Management Inc. now owns 6,375 shares of the company’s stock worth $235,000 after buying an additional 1,437 shares during the period. Cutler Group LP acquired a new position in shares of Forty Seven during the 4th quarter worth about $59,000. Meeder Asset Management Inc. acquired a new position in shares of Forty Seven during the 4th quarter worth about $70,000. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Forty Seven during the 4th quarter worth about $111,000. Institutional investors own 71.77% of the company’s stock.

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.

Further Reading: Green Investing

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Analyst Recommendations for Forty Seven (NASDAQ:FTSV)

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