In a report released today, Swayampakula Ramakanth from H.C. Wainwright initiated coverage with a Buy rating on Forty Seven Inc (FTSV) and a price target of $21. The company’s shares closed yesterday at $17.66, close to its 52-week high of $19.27.
Ramakanth observed:
“We are initiating coverage of 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 3% terminal growth rate.”
According to TipRanks.com, Ramakanth is a 3-star analyst with an average return of 2.7% and a 37.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
Currently, the analyst consensus on Forty Seven Inc is a Strong Buy with an average price target of $27.33.
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The company has a one-year high of $19.27 and a one-year low of $0. Currently, Forty Seven Inc has an average volume of 103.2K.
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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.
