In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Forty Seven Inc (FTSV), with a price target of $21. The company’s shares closed yesterday at $17.78.
Ramakanth observed:
“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 $1.1B for 5F9 and add in cash, cash equivalents, and short-term investments of $114M to arrive at a 12-month price target of $20.57 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 -10.1% and a 31.1% 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.
See today’s analyst top recommended stocks >>
Based on Forty Seven Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $17.21 million. In comparison, last year the company had a GAAP net loss of $14.78 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
