In a report released today, Edward White from H.C. Wainwright maintained a Hold rating on Fate Therapeutics (NASDAQ: FATE), with a price target of $12. The company’s shares closed yesterday at $10.17.
White noted:
“Our $12 price target is based on a sum-of-the-parts analysis based on probability-adjusted revenue forecasts for ProTmune and FATE-NK100. We use the net present value of our revenue forecast through 2026, apply a 40% probability of success for 2Q18 fully diluted net cash estimate of $0.84/share to arrive at our $12 price target. We value the early stage pipeline and Juno collaboration at $2.32/share. We assume a 25% discount rate for the NPV of the pipeline and a P/S multiple of 4x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 25.6% and a 55.8% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Fate Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $16.
See today’s analyst top recommended stocks >>
Based on Fate Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $19.65 million. In comparison, last year the company had a GAAP net loss of $9.65 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.
Fate Therapeutics, Inc. is a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. It programmed cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.
