Fate Therapeutics Inc (FATE) Expected to Earn FY2018 Earnings of ($1.29) Per Share

Fate Therapeutics Inc (NASDAQ:FATE) – Investment analysts at Jefferies Financial Group issued their FY2018 earnings per share estimates for Fate Therapeutics in a research note issued on Monday, November 5th. Jefferies Financial Group analyst B. Amin expects that the biopharmaceutical company will earn ($1.29) per share for the year. Jefferies Financial Group has a “Buy” rating and a $17.00 price objective on the stock. Jefferies Financial Group also issued estimates for Fate Therapeutics’ Q4 2018 earnings at ($0.33) EPS, FY2019 earnings at ($1.35) EPS, FY2020 earnings at ($1.24) EPS, FY2021 earnings at ($1.35) EPS and FY2022 earnings at ($1.41) EPS.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.24 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. Fate Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis.

A number of other equities analysts have also issued reports on the stock. Piper Jaffray Companies reiterated an “overweight” rating and set a $23.00 target price on shares of Fate Therapeutics in a research report on Tuesday, September 25th. BidaskClub upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Wedbush reiterated an “outperform” rating and set a $19.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Finally, HC Wainwright reiterated a “hold” rating and set a $12.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Fate Therapeutics has an average rating of “Buy” and a consensus target price of $17.25.

Shares of FATE stock opened at $13.59 on Thursday. Fate Therapeutics has a 1 year low of $3.80 and a 1 year high of $16.94. The company has a market cap of $936.81 million, a PE ratio of -13.32 and a beta of 1.95. The company has a current ratio of 9.44, a quick ratio of 9.44 and a debt-to-equity ratio of 0.07.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC bought a new stake in shares of Fate Therapeutics during the second quarter worth approximately $7,770,000. Schwab Charles Investment Management Inc. raised its stake in shares of Fate Therapeutics by 8.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 105,300 shares of the biopharmaceutical company’s stock worth $1,195,000 after buying an additional 7,800 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Fate Therapeutics by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 290,529 shares of the biopharmaceutical company’s stock worth $3,294,000 after buying an additional 13,839 shares during the last quarter. First Mercantile Trust Co. raised its stake in shares of Fate Therapeutics by 113.7% during the second quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock worth $146,000 after buying an additional 6,863 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Fate Therapeutics by 23.2% during the third quarter. Alps Advisors Inc. now owns 94,532 shares of the biopharmaceutical company’s stock worth $1,540,000 after buying an additional 17,818 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 3,703,704 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was acquired at an average cost of $13.50 per share, with a total value of $50,000,004.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.89% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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

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