Jefferies Maintains Five Prime Therapeutics Inc to Buy with Price Target $60.00

Brokerage firm Jefferies Maintains its rating on Five Prime Therapeutics Inc(NASDAQ:FPRX). In a research note issued to the investors, the brokerage major Raises the price-target to $60.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Aug 5, 2016.

Five Prime Therapeutics Inc (FPRX) made into the market gainers list on Wednesdays trading session with the shares advancing 0.06% or 0.03 points. Due to strong positive momentum, the stock ended at $46.25, which is also near the day’s high of $47.47. The stock began the session at $46.26 and the volume stood at 2,07,886 shares. The 52-week high of the shares is $55 and the 52 week low is $14.7. The company has a current market capitalization of $1,311 M and it has 2,83,44,086 shares in outstanding.

Five Prime Therapeutics Inc(FPRX) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $9.23M. Analysts had an estimated revenue of $6.38M. Earnings per share were $-0.49. Analysts had estimated an EPS of $-0.56.

Several Insider Transactions has been reported to the SEC. On Aug 2, 2016, William R Ringo (director) sold 500 shares at $50.77 per share price.Also, On Jul 28, 2016, Peder Jensen (director) sold 12,195 shares at $49.50 per share price.On Apr 26, 2016, Marc Belsky (Senior Vice President and CFO) sold 34,102 shares at $49.63 per share price, according to the Form-4 filing with the securities and exchange commission.

Five Prime Therapeutics Inc. (Five Prime) is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include FPA008 FPA144 and FP-1039/GSK3052230. FPA008 is an antibody that inhibits colony stimulating factor-1 (CSF1) receptor (CSF1R) that the Company is developing in rheumatoid arthritis. FPA144 is an antibody that inhibits fibroblast growth factor receptor 2b (FGFR2b) which the Company is developing to treat patients with gastric cancer. FP-1039/GSK3052230 is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors (FGFs) involved in cancer cell proliferation and new blood vessel formation. Its partner GlaxoSmithKline is developing FP-1039/GSK3052230 to treat patients with squamous non-small cell lung cancer (NSCLC) and malignant pleural mesothelioma.

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