Zacks: Analysts Anticipate Five Prime Therapeutics Inc (FPRX) Will Post Quarterly Sales of $9.86 Million

Analysts expect Five Prime Therapeutics Inc (NASDAQ:FPRX) to post sales of $9.86 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Five Prime Therapeutics’ earnings. The lowest sales estimate is $8.00 million and the highest is $11.71 million. Five Prime Therapeutics posted sales of $8.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.4%. The firm is expected to issue its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Five Prime Therapeutics will report full year sales of $9.86 million for the current year, with estimates ranging from $34.30 million to $42.00 million. For the next financial year, analysts expect that the company will post sales of $25.67 million per share, with estimates ranging from $20.00 million to $30.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Five Prime Therapeutics.

Five Prime Therapeutics (NASDAQ:FPRX) last announced its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.19). Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. The company had revenue of $8.33 million for the quarter, compared to analyst estimates of $16.16 million. During the same period last year, the firm earned ($0.72) earnings per share. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis.

FPRX has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 price objective on shares of Five Prime Therapeutics in a research note on Friday, September 22nd. Zacks Investment Research cut Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $41.00 price objective on shares of Five Prime Therapeutics in a research note on Wednesday, October 25th. ValuEngine lowered Five Prime Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, BidaskClub lowered Five Prime Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Five Prime Therapeutics currently has an average rating of “Hold” and a consensus price target of $64.00.

Shares of Five Prime Therapeutics (FPRX) traded up $0.10 during trading on Friday, hitting $21.82. The company had a trading volume of 297,000 shares, compared to its average volume of 414,475. Five Prime Therapeutics has a twelve month low of $19.73 and a twelve month high of $49.30. The firm has a market capitalization of $628.36, a PE ratio of -4.31 and a beta of 3.91.

In other Five Prime Therapeutics news, Director William R. Ringo sold 600 shares of Five Prime Therapeutics stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $45.33, for a total transaction of $27,198.00. Following the transaction, the director now directly owns 600 shares in the company, valued at $27,198. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Five Prime Therapeutics by 3.1% in the second quarter. Legal & General Group Plc now owns 9,455 shares of the biotechnology company’s stock valued at $288,000 after purchasing an additional 287 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Five Prime Therapeutics by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,449 shares of the biotechnology company’s stock valued at $646,000 after purchasing an additional 397 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Five Prime Therapeutics by 1.4% in the second quarter. Rhumbline Advisers now owns 34,282 shares of the biotechnology company’s stock valued at $1,032,000 after purchasing an additional 484 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Five Prime Therapeutics by 3.0% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,227 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 494 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Five Prime Therapeutics by 9.5% in the second quarter. Voya Investment Management LLC now owns 12,594 shares of the biotechnology company’s stock valued at $379,000 after purchasing an additional 1,097 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

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About Five Prime Therapeutics

Five Prime Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include Cabiralizumab (FPA008), which is an antibody that inhibits colony stimulating factor-1 receptor, that it is studying in clinical trials as a monotherapy in pigmented villonodular synovitis, and in multiple cancers in combination with programmed-death 1 immune checkpoint inhibitor, Opdivo; FPA144, which is an antibody that inhibits fibroblast growth factor receptor 2b, that it is initially developing to treat patients with gastric (stomach) cancer and is in a Phase I clinical trial, and FP-1039, which is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors, involved in cancer cell proliferation and new blood vessel formation and is in Phase Ib clinical development to treat patients with malignant pleural mesothelioma.

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