Wedbush Boosts Five Prime Therapeutics (FPRX) Price Target to $19.00

Five Prime Therapeutics (NASDAQ:FPRX) had its price objective hoisted by equities research analysts at Wedbush from $17.00 to $19.00 in a research report issued on Friday, MarketBeat.com reports. The firm currently has a “hold” rating on the biotechnology company’s stock. Wedbush’s target price points to a potential upside of 34.85% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Raymond James assumed coverage on shares of Five Prime Therapeutics in a research note on Thursday, June 28th. They set a “market perform” rating for the company. Wells Fargo & Co decreased their target price on shares of Five Prime Therapeutics from $58.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday. ValuEngine upgraded shares of Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 2nd. Finally, BidaskClub downgraded shares of Five Prime Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Five Prime Therapeutics presently has an average rating of “Hold” and a consensus target price of $33.44.

NASDAQ FPRX traded down $0.61 during trading hours on Friday, hitting $14.09. The company had a trading volume of 320,166 shares, compared to its average volume of 250,296. Five Prime Therapeutics has a 1-year low of $13.91 and a 1-year high of $48.87.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.30. Five Prime Therapeutics had a negative net margin of 206.02% and a negative return on equity of 40.61%. The company had revenue of $7.58 million during the quarter, compared to the consensus estimate of $5.87 million. sell-side analysts anticipate that Five Prime Therapeutics will post -4.38 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FPRX. Rockefeller Capital Management L.P. acquired a new stake in shares of Five Prime Therapeutics during the first quarter worth about $111,000. Quantbot Technologies LP boosted its stake in shares of Five Prime Therapeutics by 361.5% during the first quarter. Quantbot Technologies LP now owns 7,347 shares of the biotechnology company’s stock worth $126,000 after buying an additional 5,755 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Five Prime Therapeutics during the fourth quarter worth about $294,000. Mackay Shields LLC acquired a new stake in shares of Five Prime Therapeutics during the first quarter worth about $317,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Five Prime Therapeutics during the second quarter worth about $379,000. Institutional investors and hedge funds own 90.93% 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 immuno-oncology protein therapeutics. The company's product candidates include Cabiralizumab, an antibody that inhibits colony stimulating factor-1 receptor that is in Phase Ia/Ib clinical trials for the treatment of various cancers in combination with nivolumab; and is in Phase I/II clinical trials for the treatment of pigmented villonodular synovitis tumor.

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Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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