After Oppenheimer and Morgan Stanley gave Forty Seven Inc (NASDAQ: FTSV) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Arlinda Lee maintained a Buy rating on Forty Seven Inc today and set a price target of $22. The company’s shares opened today at $14.76, close to its 52-week high of $16.86.
Lee said:
“We continue to view anti-CD47 5F9’s mechanism of blocking cancer immune evasion – and thereby its potential for broad efficacy across tumor types – as attractive. With first clinical efficacy encouraging but emerging, notably across both solid tumors and hematologic malignancies with evidence of deepening responses over time, we view 5F9’s prospects as attractive and reiterate our BUY rating and $22 PT.”
According to TipRanks.com, Lee is a 2-star analyst with an average return of 0.4% and a 41.5% success rate. Lee covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals Inc, Eloxx Pharmaceuticals Inc, and Karyopharm Therapeutics.
Currently, the analyst consensus on Forty Seven Inc is a Strong Buy with an average price target of $27.33, implying an 85.2% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $35 price target.
.
See today’s analyst top recommended stocks >>
Based on Forty Seven Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.72 million. In comparison, last year the company had a GAAP net loss of $10.91 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.
