The stock of Five Prime Therapeutics Inc (NASDAQ:FPRX) hit a new 52-week high and has $68.38 target or 27.00% above today’s $53.84 share price. The 7 months bullish chart indicates low risk for the $1.54B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $68.38 price target is reached, the company will be worth $415.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 230,232 shares traded hands. Five Prime Therapeutics Inc (NASDAQ:FPRX) has risen 14.35% since April 7, 2016 and is uptrending. It has outperformed by 9.57% the S&P500.
Five Prime Therapeutics Inc (NASDAQ:FPRX) Ratings Coverage
Out of 5 analysts covering Five Prime Therapeutics (NASDAQ:FPRX), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Five Prime Therapeutics has been the topic of 9 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Friday, December 4 by Wells Fargo. The company was initiated on Thursday, January 21 by Credit Suisse. The rating was upgraded by Zacks on Friday, August 21 to “Sell”. On Tuesday, April 12 the stock rating was initiated by BMO Capital Markets with “Market Perform”. On Friday, March 11 the stock rating was maintained by Credit Suisse with “Outperform”. The firm has “Sell” rating given on Tuesday, August 11 by Zacks. As per Friday, July 31, the company rating was initiated by Citigroup. Oppenheimer maintained the stock with “Outperform” rating in Monday, October 19 report. The rating was initiated by Citigroup on Tuesday, October 25 with “Buy”.
According to Zacks Investment Research, “Five Prime Therapeutics, Inc. is a biotechnology company. The company focuses on the discovery and development of protein therapeutics that blocks cancer and inflammatory disease processes. It operates primarily in the United States and Canada. Five Prime Therapeutics, Inc. is based in San Francisco, California.”
Insitutional Activity: The institutional sentiment increased to 2.29 in Q2 2016. Its up 1.04, from 1.25 in 2016Q1. The ratio improved, as 15 funds sold all Five Prime Therapeutics Inc shares owned while 34 reduced positions. 47 funds bought stakes while 65 increased positions. They now own 24.20 million shares or 3.63% more from 23.35 million shares in 2016Q1.
Nelson Roberts Advsr Ltd Limited Liability Company reported 325 shares or 0% of all its holdings. California Public Employees Retirement Sys accumulated 0% or 23,400 shares. The New York-based Williams Jones And Associates Limited Liability Company has invested 0.02% in Five Prime Therapeutics Inc (NASDAQ:FPRX). Fred Alger Management accumulated 14,400 shares or 0% of the stock. Vident Advisory last reported 0.1% of its portfolio in the stock. Baker Bros Advsr Lp holds 0.01% of its portfolio in Five Prime Therapeutics Inc (NASDAQ:FPRX) for 19,247 shares. Qvt Financial L P has 48,582 shares for 0.14% of their US portfolio. California State Teachers Retirement System last reported 56,575 shares in the company. Gotham Asset Mngmt Ltd Liability Company holds 0.12% or 241,475 shares in its portfolio. Blackrock Institutional Tru Company Na has invested 0% of its portfolio in Five Prime Therapeutics Inc (NASDAQ:FPRX). The Massachusetts-based Putnam Invests Lc has invested 0.01% in Five Prime Therapeutics Inc (NASDAQ:FPRX). Adage Cap Prtnrs Gp Lc has 0.27% invested in the company for 2.37M shares. Blackrock Limited last reported 0% of its portfolio in the stock. Sei Invs holds 915 shares or 0% of its portfolio. Pacad Ltd has 0.04% invested in the company for 6,300 shares.
Insider Transactions: Since July 27, 2016, the stock had 0 insider buys, and 5 selling transactions for $701,473 net activity. $26,000 worth of Five Prime Therapeutics Inc (NASDAQ:FPRX) shares were sold by RINGO WILLIAM R. 12,195 shares were sold by Jensen Peder, worth $603,653 on Wednesday, July 27.
More recent Five Prime Therapeutics Inc (NASDAQ:FPRX) news were published by: Benzinga.com which released: “Citi Launches Positive Coverage On Five Prime Therapeutics” on October 25, 2016. Also Reuters.com published the news titled: “BRIEF-Five Prime Therapeutics says Aron Knickerbocker promoted to COO” on September 20, 2016. Globenewswire.com‘s news article titled: “Five Prime Therapeutics Receives FDA Orphan Drug Designation for FPA144 for …” with publication date: July 05, 2016 was also an interesting one.
FPRX Company Profile
Five Prime Therapeutics, Inc. (Five Prime), incorporated on December 20, 2001, is a clinical-stage biotechnology firm focused on discovering and developing protein therapeutics. The Firm has three product candidates in clinical development covering multiple potential indications. It focuses on immuno-oncology, an area in which it has clinical and discovery programs, and product and discovery collaborations. The Firm seeks to engage third-party collaborators to assist it in developing companion diagnostics for its clinical programs. The Company’s product candidates include FPA008, FPA144 and FP-1039/GSK3052230.
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