Five Prime Therapeutics (FPRX) Downgraded to Sell at BidaskClub

Five Prime Therapeutics (NASDAQ:FPRX) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research firms have also commented on FPRX. Royal Bank Of Canada upped their price objective on Five Prime Therapeutics from $41.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. BMO Capital Markets upgraded Five Prime Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. ValuEngine upgraded Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Jefferies Group restated a “buy” rating and issued a $52.00 price objective on shares of Five Prime Therapeutics in a research report on Tuesday, September 12th. Finally, Zacks Investment Research upgraded Five Prime Therapeutics from a “sell” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Monday, October 16th. Two research 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 a consensus rating of “Hold” and a consensus price target of $64.00.

Shares of Five Prime Therapeutics (FPRX) opened at $22.86 on Friday. Five Prime Therapeutics has a 52-week low of $21.41 and a 52-week high of $55.42.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($1.54) EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $8.33 million during the quarter, compared to analysts’ expectations of $16.16 million. During the same quarter in the prior year, the company posted ($0.72) EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. analysts predict that Five Prime Therapeutics will post -5.56 EPS for the current fiscal year.

In related news, Director William R. Ringo sold 600 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $45.33, for a total value of $27,198.00. Following the completion of the transaction, the director now directly owns 600 shares of the company’s stock, valued at approximately $27,198. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Ringo sold 2,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $76,000. The disclosure for this sale can be found here. Insiders have sold a total of 4,400 shares of company stock worth $175,666 in the last quarter. Insiders own 6.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FPRX. JPMorgan Chase & Co. raised its stake in 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 last quarter. Pictet Asset Management Ltd. increased 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 worth $19,150,000 after acquiring an additional 158,863 shares during the last quarter. Artal Group S.A. acquired a new stake in shares of Five Prime Therapeutics in the 2nd quarter worth $4,517,000. Victory Capital Management Inc. increased its stake in shares of Five Prime Therapeutics by 28.9% in the 2nd quarter. Victory Capital Management Inc. now owns 666,440 shares of the biotechnology company’s stock worth $20,066,000 after acquiring an additional 149,340 shares during the last quarter. Finally, AXA acquired a new stake in shares of Five Prime Therapeutics in the 3rd quarter worth $5,441,000. 83.80% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Five Prime Therapeutics (NASDAQ:FPRX)

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