Five Prime Therapeutics (NASDAQ:FPRX) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Five Prime Therapeutics (NASDAQ:FPRX) from a hold rating to a buy rating in a research report report published on Saturday, BidAskClub reports.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Five Prime Therapeutics from a neutral rating to an underweight rating in a research note on Friday, February 28th. Wedbush raised shares of Five Prime Therapeutics from a neutral rating to an outperform rating and boosted their price objective for the company from $5.00 to $9.00 in a research note on Monday, June 22nd. Finally, Zacks Investment Research cut shares of Five Prime Therapeutics from a buy rating to a hold rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Five Prime Therapeutics currently has an average rating of Hold and a consensus target price of $7.00.

FPRX stock opened at $6.70 on Friday. The stock has a market capitalization of $249.85 million, a P/E ratio of -1.93 and a beta of 2.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 7.82 and a current ratio of 7.82. Five Prime Therapeutics has a one year low of $1.75 and a one year high of $7.25. The company has a 50 day moving average price of $5.01 and a two-hundred day moving average price of $4.19.

Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.10. Five Prime Therapeutics had a negative net margin of 679.63% and a negative return on equity of 72.79%. The company had revenue of $8.41 million during the quarter, compared to analysts’ expectations of $6.60 million. Research analysts forecast that Five Prime Therapeutics will post -2.44 earnings per share for the current fiscal year.

In other Five Prime Therapeutics news, major shareholder Bvf Partners L. P/Il bought 293,587 shares of Five Prime Therapeutics stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $4.10 per share, for a total transaction of $1,203,706.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. BVF Inc. IL lifted its holdings in Five Prime Therapeutics by 106.7% in the 4th quarter. BVF Inc. IL now owns 7,783,001 shares of the biotechnology company’s stock worth $35,724,000 after buying an additional 4,017,833 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Five Prime Therapeutics by 32.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,761,971 shares of the biotechnology company’s stock worth $8,087,000 after buying an additional 427,080 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Five Prime Therapeutics by 226.7% in the 4th quarter. AQR Capital Management LLC now owns 449,403 shares of the biotechnology company’s stock worth $2,063,000 after buying an additional 311,832 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Five Prime Therapeutics by 198.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 361,299 shares of the biotechnology company’s stock worth $1,658,000 after buying an additional 240,056 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Five Prime Therapeutics by 70.0% in the 1st quarter. Acadian Asset Management LLC now owns 425,862 shares of the biotechnology company’s stock worth $967,000 after buying an additional 175,399 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.

Five Prime Therapeutics Company Profile

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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