Equities research analysts expect that Forty Seven Inc (NASDAQ:FTSV) will report ($0.56) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Forty Seven’s earnings. The firm is scheduled to issue its next quarterly earnings results on Monday, November 12th.
According to Zacks, analysts expect that Forty Seven will report full year earnings of ($2.96) per share for the current year, with EPS estimates ranging from ($3.51) to ($2.41). For the next year, analysts anticipate that the firm will report earnings of ($2.73) per share, with EPS estimates ranging from ($3.05) to ($2.41). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Forty Seven.
Forty Seven (NASDAQ:FTSV) last released its quarterly earnings results on Monday, August 13th. The company reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($1.84).
A number of research firms recently weighed in on FTSV. Zacks Investment Research upgraded Forty Seven from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine raised Forty Seven from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Morgan Stanley upped their target price on Forty Seven from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Oppenheimer started coverage on Forty Seven in a research note on Monday, July 23rd. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Credit Suisse Group started coverage on Forty Seven in a research note on Monday, July 23rd. They issued an “outperform” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $26.75.
Shares of FTSV traded down $0.42 on Friday, reaching $12.79. The stock had a trading volume of 62,395 shares, compared to its average volume of 85,576. Forty Seven has a twelve month low of $12.02 and a twelve month high of $16.86.
In related news, major shareholder Ravi Mhatre bought 166,858 shares of Forty Seven stock in a transaction that occurred on Thursday, August 23rd. The shares were purchased at an average price of $15.08 per share, with a total value of $2,516,218.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Peter Nieh bought 67,500 shares of Forty Seven stock in a transaction that occurred on Friday, August 17th. The stock was bought at an average cost of $15.18 per share, for a total transaction of $1,024,650.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 300,900 shares of company stock worth $4,540,995.
Institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in Forty Seven in the second quarter worth about $120,000. Janus Henderson Group PLC acquired a new position in Forty Seven in the second quarter valued at about $160,000. DAFNA Capital Management LLC acquired a new position in Forty Seven in the second quarter valued at about $160,000. Waddell & Reed Financial Inc. acquired a new position in Forty Seven in the second quarter valued at about $160,000. Finally, Bank of New York Mellon Corp acquired a new position in Forty Seven in the third quarter valued at about $196,000. 41.06% of the stock is currently owned by institutional investors.
About Forty Seven
Forty Seven Inc, a clinical-stage immuno-oncology company, focuses on developing therapies to activate macrophages for the treatment of cancer. It is developing 5F9, a humanized IgG4 subclass monoclonal antibody against CD47 that is in Phase 1b/2 clinical trials used for the treatment of cancer; and FSI-189, an antibody that binds to SIRPa for the treatment of solid tumors.
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