Forty Seven (NASDAQ:FTSV) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Forty Seven (NASDAQ:FTSV) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other research firms have also recently weighed in on FTSV. SunTrust Banks cut Forty Seven from a buy rating to a hold rating and lifted their price target for the company from $55.00 to $95.50 in a report on Tuesday, March 3rd. Mizuho cut Forty Seven from a buy rating to a neutral rating and set a $95.50 price target on the stock. in a report on Wednesday, March 4th. Morgan Stanley cut Forty Seven from an overweight rating to an equal weight rating and lifted their price target for the company from $45.00 to $95.50 in a report on Tuesday, March 3rd. Credit Suisse Group reaffirmed an outperform rating and set a $18.00 price target (up previously from $15.00) on shares of Forty Seven in a report on Thursday, December 5th. Finally, Guggenheim cut Forty Seven from a buy rating to a neutral rating in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Forty Seven currently has a consensus rating of Hold and an average target price of $69.86.

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

In other Forty Seven news, insider Chris H. Takimoto sold 79,195 shares of Forty Seven stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $95.42, for a total value of $7,556,786.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ravindra Majeti sold 25,000 shares of Forty Seven stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $36.35, for a total transaction of $908,750.00. Following the completion of the transaction, the director now owns 1,087,411 shares in the company, valued at approximately $39,527,389.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 360,601 shares of company stock worth $31,517,983. 37.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of FTSV. RA Capital Management L.P. acquired a new position in Forty Seven in the fourth quarter worth approximately $76,112,000. Lord Abbett & CO. LLC acquired a new stake in shares of Forty Seven in the 4th quarter valued at $18,954,000. FMR LLC lifted its stake in shares of Forty Seven by 419.4% in the 4th quarter. FMR LLC now owns 593,659 shares of the company’s stock valued at $23,372,000 after purchasing an additional 479,359 shares during the last quarter. Samlyn Capital LLC acquired a new stake in shares of Forty Seven in the 4th quarter valued at $10,777,000. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Forty Seven in the 4th quarter valued at $6,454,000. Hedge funds and other 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.

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Analyst Recommendations for Forty Seven (NASDAQ:FTSV)

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