H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Forty Seven Inc (FTSV) today and set a price target of $21. The company’s shares closed yesterday at $15.46.
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.”
According to TipRanks.com, Ramakanth has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.4% and a 33.8% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Gritstone Oncology Inc.
Currently, the analyst consensus on Forty Seven Inc is a Moderate Buy with an average price target of $28, which is an 81.1% upside from current levels. In a report issued on March 19, Oppenheimer also assigned a Buy rating to the stock.
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Based on Forty Seven Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $21.66 million. In comparison, last year the company had a GAAP net loss of $10.83 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FTSV in relation to earlier this year.
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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.
