Five Prime Therapeutics (NASDAQ:FPRX) was downgraded by equities research analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, June 3rd, MarketBeat Ratings reports. They presently have a $10.00 target price on the biotechnology company’s stock, down from their previous target price of $35.00. Wells Fargo & Co‘s price objective points to a potential upside of 70.36% from the stock’s current price.
Several other research firms have also recently weighed in on FPRX. Cowen reiterated a “buy” rating on shares of Five Prime Therapeutics in a research report on Wednesday, February 27th. ValuEngine upgraded shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. BidaskClub upgraded shares of Five Prime Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Guggenheim started coverage on shares of Five Prime Therapeutics in a research note on Friday, April 12th. They set a “buy” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Five Prime Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $20.00.
NASDAQ:FPRX traded down $0.22 on Monday, hitting $5.87. The company had a trading volume of 398,000 shares, compared to its average volume of 373,349. The company has a quick ratio of 10.41, a current ratio of 10.41 and a debt-to-equity ratio of 0.21. Five Prime Therapeutics has a 52 week low of $5.80 and a 52 week high of $17.86. The company’s 50 day moving average price is $7.91. The stock has a market cap of $221.43 million, a PE ratio of -1.43 and a beta of 3.10.
Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.05. Five Prime Therapeutics had a negative net margin of 683.89% and a negative return on equity of 54.87%. The firm had revenue of $5.35 million during the quarter, compared to analysts’ expectations of $5.71 million. As a group, equities analysts expect that Five Prime Therapeutics will post -3.67 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Five Prime Therapeutics by 4.4% during the fourth quarter. BlackRock Inc. now owns 3,039,915 shares of the biotechnology company’s stock valued at $28,269,000 after acquiring an additional 127,777 shares in the last quarter. Great Point Partners LLC lifted its position in Five Prime Therapeutics by 45.6% during the fourth quarter. Great Point Partners LLC now owns 2,398,409 shares of the biotechnology company’s stock valued at $22,305,000 after purchasing an additional 750,656 shares during the last quarter. Vanguard Group Inc. lifted its position in Five Prime Therapeutics by 3.0% during the third quarter. Vanguard Group Inc. now owns 2,251,778 shares of the biotechnology company’s stock valued at $31,344,000 after purchasing an additional 66,485 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Five Prime Therapeutics by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,484,178 shares of the biotechnology company’s stock valued at $13,803,000 after purchasing an additional 71,001 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Five Prime Therapeutics by 0.5% during the fourth quarter. Northern Trust Corp now owns 425,775 shares of the biotechnology company’s stock valued at $3,959,000 after purchasing an additional 2,278 shares during the last quarter. 86.91% of the stock is owned by institutional investors.
About Five Prime Therapeutics
Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of innovative protein therapeutics. The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, which is in Phase III clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein that enhances co-stimulation of T cells through CD28.
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