The Five Prime Therapeutics, Inc. (FPRX) Given “Buy” Rating at Royal Bank Of Canada

The Five Prime Therapeutics, Inc. (FPRX) Given “Buy” Rating at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their buy rating on shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) in a research note released on Wednesday morning. Royal Bank Of Canada currently has a $41.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently commented on FPRX. Jefferies Group LLC restated a buy rating and set a $52.00 price objective (down from $55.00) on shares of Five Prime Therapeutics in a research note on Thursday, August 10th. BidaskClub cut shares of Five Prime Therapeutics from a sell rating to a strong sell rating in a research note on Wednesday, August 2nd. BMO Capital Markets upgraded shares of Five Prime Therapeutics from a market perform rating to an outperform rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Five Prime Therapeutics from a sell rating to a buy rating and set a $49.00 price objective for the company in a research note on Monday, October 16th. Finally, ValuEngine upgraded shares of Five Prime Therapeutics from a strong sell rating to a sell rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $54.83.

Five Prime Therapeutics (NASDAQ FPRX) traded up 1.77% on Wednesday, reaching $44.25. 119,769 shares of the company’s stock traded hands. The stock’s market cap is $1.24 billion. The stock has a 50 day moving average price of $39.15 and a 200 day moving average price of $32.65. Five Prime Therapeutics has a 12-month low of $25.97 and a 12-month high of $60.98.

Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.43). Five Prime Therapeutics had a negative net margin of 356.39% and a negative return on equity of 31.78%. The business had revenue of $7.80 million for the quarter, compared to analyst estimates of $8.32 million. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. The business’s revenue was down 16.1% on a year-over-year basis. Analysts forecast 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 business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $40.26, for a total value of $72,468.00. Following the completion of the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $48,312. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William R. Ringo sold 2,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $76,000. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FPRX. Renaissance Technologies LLC acquired a new position in shares of Five Prime Therapeutics in the 1st quarter valued at $16,734,000. State Street Corp lifted its stake in shares of Five Prime Therapeutics by 25.7% in the 1st quarter. State Street Corp now owns 1,249,520 shares of the biotechnology company’s stock valued at $45,175,000 after purchasing an additional 255,488 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Five Prime Therapeutics by 162.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 298,395 shares of the biotechnology company’s stock valued at $8,984,000 after purchasing an additional 184,888 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of Five Prime Therapeutics by 51.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 468,088 shares of the biotechnology company’s stock valued at $19,150,000 after purchasing an additional 158,863 shares during the period. Finally, Artal Group S.A. acquired a new position in shares of Five Prime Therapeutics in the 2nd quarter valued at $4,517,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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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