Mizuho Securities analyst Mara Goldstein maintained a Buy rating on Fate Therapeutics (FATE) today and set a price target of $109.00. The company’s shares closed last Tuesday at $78.00.
According to TipRanks.com, Goldstein is a 4-star analyst with an average return of 12.4% and a 35.5% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Iovance Biotherapeutics, and Corvus Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Fate Therapeutics with a $113.38 average price target, which is a 59.2% upside from current levels. In a report issued on May 7, Wedbush also upgraded the stock to Buy with a $88.00 price target.
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Based on Fate Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $15.9 million and GAAP net loss of $53.11 million. In comparison, last year the company earned revenue of $2.52 million and had a GAAP net loss of $33.52 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FATE in relation to earlier this year.
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Fate Therapeutics, Inc. operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system. Its products include ProHema, ProTmune, Adaptive NK, iPSC-derived NK, Programmed CD34 and T cell therapy. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko and John D. Mendlein on April 27, 2007 and is headquartered in San Diego, CA.
