H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Forty Seven Inc (FTSV) today and set a price target of $21. The company’s shares closed on Friday at $18.78.
Ramakanth commented:
“We maintain our Buy rating on FTSV and our 12-month price target of $21.00 per share. We derive our price target based on a risk-based NPV (rNPV) analysis of projected 5F9 revenues through 2030 assuming a 12% discount rate and a 3% terminal growth rate. We derive rNPV of $1.2B for 5F9 and add in cash, cash equivalents, and short-term investments of $139M to arrive at a 12-month price target of $21.32 per diluted share, which we round to $21.00.”
According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.7% and a 32.7% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Gritstone Oncology Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Forty Seven Inc with a $27.75 average price target.
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The company has a one-year high of $23.83 and a one-year low of $12.02. Currently, Forty Seven Inc has an average volume of 158.7K.
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Forty Seven, Inc. develops therapies that target cancer immune evasion pathways. It develops Hu5F9-G4, a monoclonal antibody against human CD47 that potentially has applications spanning multiple tumor types and treatment modalities.
