JonesTrading analyst Soumit Roy reiterated a Buy rating on Forty Seven Inc (FTSV) yesterday. The company’s shares closed last Monday at $6.66, close to its 52-week low of $6.21.
Roy wrote:
“Forty Seven’s earnings updates indicated key focus to remain on 1L MDS and CAR T ineligible r/r DLBCL for the next 12-18 months (press release HERE). Seven’s opportunities in 1L MDS following robust mid-2019 data showing an ORR of 100% (11/11) and CR of 55% (6/11), as chemo-based standards of care show an ORR of <20%."
According to TipRanks.com, Roy has 0 stars on 0-5 star ranking scale with an average return of -17.9% and a 25.4% success rate. Roy covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Adaptimmune Therapeutics, and Neon Therapeutics Inc.
Currently, the analyst consensus on Forty Seven Inc is a Strong Buy with an average price target of $23, a 193.4% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $23.83 and a one-year low of $6.21. Currently, Forty Seven Inc has an average volume of 321.7K.
Based on the recent corporate insider activity of 34 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.
