Fate Therapeutics (FATE) Receives $16.17 Average Price Target from Analysts

Fate Therapeutics (NASDAQ:FATE) has earned an average rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.17.

A number of research firms have weighed in on FATE. ValuEngine raised Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Wedbush reaffirmed an “outperform” rating and set a $19.00 price target on shares of Fate Therapeutics in a research report on Thursday, March 29th. HC Wainwright reaffirmed a “hold” rating and set a $12.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 20th. Zacks Investment Research downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Finally, UBS downgraded Fate Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 6th.

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Shares of FATE opened at $11.15 on Friday. Fate Therapeutics has a 52-week low of $2.52 and a 52-week high of $14.45. The company has a current ratio of 9.29, a quick ratio of 9.29 and a debt-to-equity ratio of 0.19.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Fate Therapeutics had a negative return on equity of 71.00% and a negative net margin of 1,046.08%. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.02 million. The firm’s quarterly revenue was up .0% on a year-over-year basis. equities analysts anticipate that Fate Therapeutics will post -0.94 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Fate Therapeutics by 61.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 12,686 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Fate Therapeutics in the 4th quarter valued at approximately $141,000. BlackRock Inc. boosted its holdings in shares of Fate Therapeutics by 2.6% in the 4th quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock valued at $10,421,000 after buying an additional 43,499 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 347,573 shares of the biopharmaceutical company’s stock valued at $2,123,000 after buying an additional 45,142 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Fate Therapeutics by 257.0% in the 4th quarter. Two Sigma Advisers LP now owns 71,400 shares of the biopharmaceutical company’s stock valued at $436,000 after buying an additional 51,400 shares during the last quarter. 66.41% of the stock is owned by institutional investors.

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Fate Therapeutics Company Profile

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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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