Fate Therapeutics Represents An Undervalued Player With Significant Upside, Says H.C. Wainwright

H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on Fate Therapeutics (NASDAQ:FATE) with a $9 price target, following the company’s release of its third-quarter results.

Benjamin wrote, “The company’s lead therapeutic candidate, PROHEMA, is being tested in the Phase 2 PUMA trial for hematopoietic transplants in adult patients, and the pediatric Phase 1 PROMPT study, expected to initiate shortly. We also expect PROHEMA to enter the Phase 1 PROVIDE trial in pediatric patients with rare, inborn metabolic disorders in 4Q14. Taken together, we believe 2015 could be a data rich year of value drivers for shareholders as all three trials report results. With a diverse pipeline of small molecule modulators targeting both hematological malignancies and orphan diseases and a cash position of $45.5 MM, we believe Fate Therapeutics represents an undervalued player with significant upside for the long-term investor.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -3.6% and a 36.9% success rate. Benjamin has a -24.3% average return when recommending FATE, and is ranked #3092 out of 3386 analysts.

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