Five Prime Therapeutics, Inc. (NASDAQ:FPRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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 research analysts have also issued reports on FPRX. BidaskClub lowered Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price target (down previously from $55.00) on shares of Five Prime Therapeutics in a research report on Thursday, August 10th. ValuEngine upgraded Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Royal Bank Of Canada initiated coverage on Five Prime Therapeutics in a research report on Thursday, September 14th. They set an “outperform” rating and a $41.00 price target for the company. Finally, BMO Capital Markets reiterated a “hold” rating and set a $39.00 price target on shares of Five Prime Therapeutics in a research report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $64.00.
Shares of Five Prime Therapeutics (NASDAQ FPRX) traded up $1.06 during mid-day trading on Thursday, reaching $28.83. The company’s stock had a trading volume of 1,603,400 shares, compared to its average volume of 805,477. Five Prime Therapeutics has a one year low of $21.41 and a one year high of $60.98.
Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.35) by ($0.19). Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. The business had revenue of $8.33 million for the quarter, compared to analyst estimates of $16.16 million. During the same quarter last year, the firm posted ($0.72) EPS. The company’s revenue was up 24.7% compared to the same quarter last year. sell-side analysts expect that Five Prime Therapeutics will post -5.56 earnings per share for the current fiscal year.
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In other news, Director William R. Ringo sold 1,800 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.26, for a total value of $72,468.00. Following the completion of the sale, the director now owns 1,200 shares in the company, valued at $48,312. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William R. Ringo sold 600 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $45.33, for a total value of $27,198.00. Following the completion of the sale, the director now owns 600 shares of the company’s stock, valued at approximately $27,198. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,400 shares of company stock valued at $175,666. Insiders own 6.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Five Prime Therapeutics by 4.1% in the third quarter. Wells Fargo & Company MN now owns 185,382 shares of the biotechnology company’s stock valued at $7,584,000 after buying an additional 7,294 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Five Prime Therapeutics during the third quarter valued at $988,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Five Prime Therapeutics by 10.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 33,080 shares of the biotechnology company’s stock valued at $1,353,000 after purchasing an additional 3,208 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Five Prime Therapeutics during the third quarter valued at $1,636,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Five Prime Therapeutics during the third quarter valued at $223,000. Institutional investors and hedge funds own 84.08% of the company’s stock.
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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