Five Prime Therapeutics (NASDAQ:FPRX) Rating Increased to Hold at ValuEngine

Five Prime Therapeutics (NASDAQ:FPRX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

FPRX has been the subject of several other reports. Wells Fargo & Co downgraded Five Prime Therapeutics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $35.00 to $10.00 in a research report on Monday, June 3rd. BidaskClub downgraded Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Roth Capital initiated coverage on Five Prime Therapeutics in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $10.00 target price for the company. Zacks Investment Research downgraded Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Guggenheim initiated coverage on Five Prime Therapeutics in a research report on Friday, April 12th. They issued a “buy” rating and a $24.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.00.

NASDAQ FPRX remained flat at $$5.10 during trading on Thursday. The company’s stock had a trading volume of 238,651 shares, compared to its average volume of 405,985. The stock has a market capitalization of $183.91 million, a P/E ratio of -1.23 and a beta of 2.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 10.41 and a quick ratio of 10.41. The stock’s fifty day moving average is $5.80. Five Prime Therapeutics has a 52 week low of $4.90 and a 52 week high of $16.00.

Five Prime Therapeutics (NASDAQ:FPRX) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.05. The company had revenue of $5.35 million during the quarter, compared to the consensus estimate of $5.71 million. Five Prime Therapeutics had a negative return on equity of 54.87% and a negative net margin of 683.89%. On average, research analysts expect that Five Prime Therapeutics will post -3.75 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Granite Investment Partners LLC boosted its stake in shares of Five Prime Therapeutics by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 32,442 shares of the biotechnology company’s stock valued at $435,000 after buying an additional 15,164 shares during the period. Northern Trust Corp boosted its stake in shares of Five Prime Therapeutics by 0.5% in the 4th quarter. Northern Trust Corp now owns 425,775 shares of the biotechnology company’s stock valued at $3,959,000 after buying an additional 2,278 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Five Prime Therapeutics by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,484,178 shares of the biotechnology company’s stock valued at $13,803,000 after buying an additional 71,001 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Five Prime Therapeutics in the 1st quarter valued at about $2,073,000. Finally, Millennium Management LLC boosted its stake in shares of Five Prime Therapeutics by 38.9% in the 4th quarter. Millennium Management LLC now owns 198,171 shares of the biotechnology company’s stock valued at $1,843,000 after buying an additional 55,450 shares during the period. Institutional investors and hedge funds own 86.94% 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.

Further Reading: What does a neutral rating on stocks mean?

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Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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