Five Prime Therapeutics (FPRX) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Five Prime Therapeutics (NASDAQ:FPRX) from a hold rating to a sell rating in a research note published on Wednesday morning.

According to Zacks, “Five Prime Therapeutics, Inc. is a biotechnology company. The company focuses on the discovery and development of protein therapeutics that blocks cancer and inflammatory disease processes. It operates primarily in the United States and Canada. Five Prime Therapeutics, Inc. is based in San Francisco, California. “

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada reaffirmed a buy rating and issued a $41.00 target price on shares of Five Prime Therapeutics in a research report on Wednesday, October 25th. BMO Capital Markets upped their target price on shares of Five Prime Therapeutics from $71.00 to $75.00 and gave the stock an outperform rating in a research report on Tuesday, November 7th. ValuEngine downgraded shares of Five Prime Therapeutics from a hold rating to a sell rating in a research report on Tuesday, November 7th. Finally, BidaskClub downgraded shares of Five Prime Therapeutics from a hold rating to a sell rating in a research report on Saturday, December 9th. Three analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $64.00.

Five Prime Therapeutics (FPRX) opened at $19.09 on Wednesday. Five Prime Therapeutics has a 1-year low of $17.05 and a 1-year high of $49.30. The company has a market cap of $651.98, a price-to-earnings ratio of -3.77 and a beta of 3.56.

Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in shares of Five Prime Therapeutics in the 4th quarter worth about $221,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Five Prime Therapeutics in the 3rd quarter worth about $223,000. Virtu KCG Holdings LLC purchased a new stake in Five Prime Therapeutics during the 2nd quarter valued at about $331,000. Dupont Capital Management Corp purchased a new stake in Five Prime Therapeutics during the 3rd quarter valued at about $341,000. Finally, Voya Investment Management LLC grew its position in Five Prime Therapeutics by 9.5% during the 2nd quarter. Voya Investment Management LLC now owns 12,594 shares of the biotechnology company’s stock valued at $379,000 after purchasing an additional 1,097 shares during the last quarter. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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