Jefferies Group LLC reaffirmed their buy rating on shares of Five Prime Therapeutics Inc (NASDAQ:FPRX) in a research note published on Friday, May 5th. Jefferies Group LLC currently has a $55.00 target price on the biotechnology company’s stock.
“Near-term focus is on initial Ph2 data for cabiralizumab in PVNS at ASCO. Roche’s emactuzumab in PVNS showed an ~80% RR at high dose, but resulting in 2 cases of lupus per FPRX.”,” Jefferies Group LLC’s analyst commented.
Several other analysts have also issued reports on the stock. Cowen and Company started coverage on shares of Five Prime Therapeutics in a research report on Friday, March 24th. They set an outperform rating for the company. TheStreet lowered shares of Five Prime Therapeutics from a c rating to a d+ rating in a research report on Monday, March 20th. Zacks Investment Research lowered shares of Five Prime Therapeutics from a buy rating to a hold rating in a research report on Tuesday, May 2nd. Instinet started coverage on shares of Five Prime Therapeutics in a research report on Wednesday, March 1st. They set a buy rating and a $94.00 target price for the company. Finally, Nomura started coverage on shares of Five Prime Therapeutics in a research report on Wednesday, March 1st. They set a buy rating for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Five Prime Therapeutics has a consensus rating of Buy and an average price target of $60.83.
Shares of Five Prime Therapeutics (NASDAQ:FPRX) traded down 1.15% during midday trading on Friday, reaching $29.34. 191,361 shares of the company’s stock traded hands. Five Prime Therapeutics has a 12 month low of $28.51 and a 12 month high of $60.98. The stock has a 50-day moving average price of $32.38 and a 200 day moving average price of $44.16. The firm’s market cap is $818.50 million.
Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.25. Five Prime Therapeutics had a return on equity of 59.23% and a net margin of 64.94%. The company had revenue of $10.13 million during the quarter, compared to the consensus estimate of $6.05 million. During the same quarter in the prior year, the firm earned ($0.49) earnings per share. The business’s revenue was up 55.8% compared to the same quarter last year. Equities research analysts predict that Five Prime Therapeutics will post ($4.60) earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in FPRX. Dimensional Fund Advisors LP increased its position in Five Prime Therapeutics by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 841,072 shares of the biotechnology company’s stock valued at $42,147,000 after buying an additional 93,211 shares during the period. Advisory Research Inc. bought a new position in Five Prime Therapeutics during the fourth quarter valued at approximately $1,367,000. Perceptive Advisors LLC bought a new position in Five Prime Therapeutics during the fourth quarter valued at approximately $8,181,000. Teachers Advisors LLC increased its position in Five Prime Therapeutics by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 238,428 shares of the biotechnology company’s stock valued at $11,948,000 after buying an additional 1,558 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Five Prime Therapeutics by 4.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 752,276 shares of the biotechnology company’s stock valued at $39,487,000 after buying an additional 31,750 shares during the period. 93.38% of the stock is currently owned by hedge funds and other institutional investors.
About Five Prime Therapeutics
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.
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