BidaskClub Upgrades Five Prime Therapeutics (NASDAQ:FPRX) to “Strong-Buy”

Five Prime Therapeutics (NASDAQ:FPRX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday, March 22nd, BidAskClub reports.

A number of other equities analysts have also issued reports on FPRX. ValuEngine raised Five Prime Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Wedbush upgraded shares of Five Prime Therapeutics from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Thursday, January 17th. Zacks Investment Research upgraded shares of Five Prime Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, January 21st. Finally, Cowen restated a “buy” rating on shares of Five Prime Therapeutics in a research report on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Five Prime Therapeutics presently has an average rating of “Buy” and a consensus price target of $24.25.

Shares of FPRX stock traded down $0.31 during mid-day trading on Friday, hitting $12.41. 158,685 shares of the stock were exchanged, compared to its average volume of 297,839. Five Prime Therapeutics has a 12-month low of $7.84 and a 12-month high of $19.70. The firm has a market cap of $451.43 million, a price-to-earnings ratio of -3.00 and a beta of 3.18.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings results on Tuesday, February 26th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.32) by $0.20. Five Prime Therapeutics had a negative return on equity of 44.55% and a negative net margin of 281.64%. On average, research analysts forecast that Five Prime Therapeutics will post -3.99 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Sofinnova Investments Inc. acquired a new position in shares of Five Prime Therapeutics during the 4th quarter worth approximately $2,933,000. Platinum Investment Management Ltd. raised its position in shares of Five Prime Therapeutics by 29.1% during the 3rd quarter. Platinum Investment Management Ltd. now owns 121,576 shares of the biotechnology company’s stock worth $1,692,000 after purchasing an additional 27,376 shares during the last quarter. BlueMountain Capital Management LLC raised its position in shares of Five Prime Therapeutics by 398.9% during the 3rd quarter. BlueMountain Capital Management LLC now owns 14,766 shares of the biotechnology company’s stock worth $206,000 after purchasing an additional 11,806 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Five Prime Therapeutics by 17.4% during the 3rd quarter. Prudential Financial Inc. now owns 166,790 shares of the biotechnology company’s stock worth $2,321,000 after purchasing an additional 24,760 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Five Prime Therapeutics during the 4th quarter valued at $58,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Five Prime Therapeutics Company Profile

Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of innovative protein therapeutics. The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, which is in Phase III clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein that enhances co-stimulation of T cells through CD28.

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Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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