Five Prime Therapeutics’ (FPRX) “Buy” Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reissued their buy rating on shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) in a research note released on Tuesday. The brokerage currently has a $52.00 price target on the biotechnology company’s stock.

A number of other brokerages have also recently issued reports on FPRX. ValuEngine raised shares of Five Prime Therapeutics from a strong sell rating to a sell rating in a research note on Friday, June 2nd. BidaskClub cut shares of Five Prime Therapeutics from a sell rating to a strong sell rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Five Prime Therapeutics currently has a consensus rating of Hold and a consensus target price of $60.80.

Five Prime Therapeutics (NASDAQ:FPRX) opened at 35.62 on Tuesday. The firm has a 50 day moving average price of $30.13 and a 200 day moving average price of $32.45. Five Prime Therapeutics has a 12-month low of $25.97 and a 12-month high of $60.98. The company’s market cap is $996.83 million.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.15) by ($0.43). Five Prime Therapeutics had a negative net margin of 356.39% and a negative return on equity of 31.78%. The company had revenue of $7.80 million for the quarter, compared to the consensus estimate of $8.32 million. During the same period last year, the company earned ($0.49) earnings per share. Five Prime Therapeutics’s revenue for the quarter was down 16.1% compared to the same quarter last year. On average, analysts anticipate that Five Prime Therapeutics will post ($5.16) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its position in shares of Five Prime Therapeutics by 0.8% during the second quarter. Creative Planning now owns 6,744 shares of the biotechnology company’s stock worth $203,000 after purchasing an additional 54 shares in the last quarter. Laurion Capital Management LP acquired a new stake in shares of Five Prime Therapeutics during the first quarter worth $210,000. Rockefeller Financial Services Inc. acquired a new stake in shares of Five Prime Therapeutics during the second quarter worth $210,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Five Prime Therapeutics during the first quarter worth $254,000. Finally, Legal & General Group Plc raised its holdings in shares of Five Prime Therapeutics by 3.1% during the second quarter. Legal & General Group Plc now owns 9,455 shares of the biotechnology company’s stock worth $288,000 after acquiring an additional 287 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Five Prime Therapeutics Company Profile

Five Prime Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include Cabiralizumab (FPA008), which is an antibody that inhibits colony stimulating factor-1 receptor, that it is studying in clinical trials as a monotherapy in pigmented villonodular synovitis, and in multiple cancers in combination with programmed-death 1 immune checkpoint inhibitor, Opdivo; FPA144, which is an antibody that inhibits fibroblast growth factor receptor 2b, that it is initially developing to treat patients with gastric (stomach) cancer and is in a Phase I clinical trial, and FP-1039, which is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors, involved in cancer cell proliferation and new blood vessel formation and is in Phase Ib clinical development to treat patients with malignant pleural mesothelioma.

Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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