The Zacks Investment Research Downgrades Five Prime Therapeutics, Inc. (FPRX) to Sell

The Zacks Investment Research Downgrades Five Prime Therapeutics, Inc. (FPRX) to Sell

Zacks Investment Research downgraded shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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. “

Several other research firms have also issued reports on FPRX. Royal Bank Of Canada began coverage on shares of Five Prime Therapeutics in a report on Thursday, September 14th. They set an outperform rating and a $41.00 target price for the company. ValuEngine upgraded shares of Five Prime Therapeutics from a strong sell rating to a sell rating in a report on Friday, September 1st. BMO Capital Markets reiterated a hold rating and set a $39.00 target price on shares of Five Prime Therapeutics in a report on Friday, September 22nd. BidaskClub lowered shares of Five Prime Therapeutics from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a buy rating and set a $52.00 target price on shares of Five Prime Therapeutics in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $57.50.

Shares of Five Prime Therapeutics (NASDAQ:FPRX) opened at 43.44 on Tuesday. The company has a 50-day moving average price of $36.33 and a 200-day moving average price of $32.05. Five Prime Therapeutics has a 12 month low of $25.97 and a 12 month high of $60.98. The company’s market capitalization is $1.22 billion.

Five Prime Therapeutics (NASDAQ:FPRX) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($1.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.15) by ($0.43). Five Prime Therapeutics had a negative return on equity of 31.78% and a negative net margin of 356.39%. The company had revenue of $7.80 million during the quarter, compared to analysts’ expectations of $8.32 million. During the same quarter last year, the business earned ($0.49) earnings per share. The business’s quarterly revenue was down 16.1% on a year-over-year basis. On average, equities analysts anticipate that Five Prime Therapeutics will post ($5.29) EPS for the current year.

In related news, Director William R. Ringo sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $40.26, for a total transaction of $72,468.00. Following the completion of the sale, the director now owns 1,200 shares of the company’s stock, valued at $48,312. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Ringo sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $76,000. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Financial Services Inc. bought a new stake in shares of Five Prime Therapeutics during the second quarter valued at approximately $210,000. Alliancebernstein L.P. increased its position in shares of Five Prime Therapeutics by 9.2% during the first quarter. Alliancebernstein L.P. now owns 97,770 shares of the biotechnology company’s stock valued at $3,534,000 after acquiring an additional 8,220 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Five Prime Therapeutics by 142.2% during the first quarter. Goldman Sachs Group Inc. now owns 217,462 shares of the biotechnology company’s stock valued at $7,861,000 after acquiring an additional 127,693 shares in the last quarter. Marshall Wace North America L.P. increased its position in shares of Five Prime Therapeutics by 19.6% during the second quarter. Marshall Wace North America L.P. now owns 341,387 shares of the biotechnology company’s stock valued at $10,241,000 after acquiring an additional 56,058 shares in the last quarter. Finally, AXA increased its position in shares of Five Prime Therapeutics by 77.0% during the first quarter. AXA now owns 15,400 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 6,700 shares in the last quarter. 84.05% of the stock is owned by 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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