Fate Therapeutics Inc (FATE) Forecasted to Earn Q1 2018 Earnings of ($0.17) Per Share

Fate Therapeutics Inc (NASDAQ:FATE) – Investment analysts at Wedbush raised their Q1 2018 earnings per share (EPS) estimates for shares of Fate Therapeutics in a research report issued on Tuesday. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn ($0.17) per share for the quarter, up from their previous forecast of ($0.22). Wedbush has a “Outperform” rating and a $10.00 price target on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q2 2018 earnings at ($0.25) EPS, Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.21) EPS, FY2018 earnings at ($0.87) EPS, FY2019 earnings at ($0.95) EPS, FY2020 earnings at ($0.31) EPS and FY2022 earnings at $1.82 EPS.

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Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million. The business’s revenue was up .0% compared to the same quarter last year.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research note on Tuesday, January 9th. Piper Jaffray Companies started coverage on Fate Therapeutics in a research note on Monday, December 18th. They issued an “overweight” rating and a $10.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Wednesday, December 13th. Raymond James Financial restated a “buy” rating on shares of Fate Therapeutics in a research note on Tuesday, December 12th. Finally, ValuEngine cut Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.00.

Shares of Fate Therapeutics (NASDAQ:FATE) opened at $13.17 on Thursday. Fate Therapeutics has a 52 week low of $2.52 and a 52 week high of $14.45. The company has a quick ratio of 7.21, a current ratio of 9.29 and a debt-to-equity ratio of 0.19.

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in shares of Fate Therapeutics by 61.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 12,686 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth about $141,000. Hochman Cole Investment Advisors Inc. acquired a new stake in shares of Fate Therapeutics during the third quarter worth about $158,000. New York State Common Retirement Fund acquired a new stake in shares of Fate Therapeutics during the second quarter worth about $131,000. Finally, BlackRock Inc. increased its position in shares of Fate Therapeutics by 2.6% during the fourth quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock worth $10,421,000 after purchasing an additional 43,499 shares in the last quarter. Institutional investors and hedge funds own 68.75% of the company’s stock.

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About Fate Therapeutics

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

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