H.C. Wainwright analyst Edward White maintained a Hold rating on Fate Therapeutics (FATE) today and set a price target of $12. The company’s shares closed on Friday at $15.36, close to its 52-week high of $16.94.
White wrote:
“Our $12 price target is based on a sum-of-the-parts analysis based on probability-adjusted revenue forecasts for ProTmune and FATE-NK100. We use the net present value of our revenue forecast through 2026, apply a 40% probability of success for 3Q18 fully diluted net cash estimate of $2.28/ share to arrive at our $12 price target. We value the early stage pipeline and Juno (JUNO; not rated) collaboration at $2.03/share. We assume a 25% discount rate for the NPV of the pipeline and a P/S multiple of 4x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.4% and a 43.9% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Fate Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $17.33.
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The company has a one-year high of $16.94 and a one-year low of $3.80. Currently, Fate Therapeutics has an average volume of 722.1K.
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Fate Therapeutics, Inc. is a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. It programmed cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.
