November 7, 2016

Five Prime Therapeutics Inc. (FPRX) Announces Quarterly Earnings Results

Five Prime Therapeutics Inc. (NASDAQ:FPRX) issued its quarterly earnings data on Thursday. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.51) by $0.21. Five Prime Therapeutics had a return on equity of 58.35% and a net margin of 64.94%. The business earned $6.70 million during the quarter, compared to analyst estimates of $7.50 million. During the same quarter last year, the firm earned ($0.93) EPS. Five Prime Therapeutics’s revenue for the quarter was up 13.6% compared to the same quarter last year. 

Five Prime Therapeutics (NASDAQ:FPRX) opened at 47.94 on Monday. The company’s 50-day moving average is $50.47 and its 200-day moving average is $46.38. Five Prime Therapeutics has a 52-week low of $28.01 and a 52-week high of $55.00. The firm has a market capitalization of $1.29 billion, a PE ratio of 5.39 and a beta of 4.48.

In related news, Director William R. Ringo sold 500 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $52.00, for a total transaction of $26,000.00. Following the completion of the sale, the director now owns 500 shares in the company, valued at $26,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock. 

A number of hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Five Prime Therapeutics by 24.1% in the second quarter. FMR LLC now owns 2,817,208 shares of the company’s stock worth $116,492,000 after buying an additional 547,808 shares during the period. Vanguard Group Inc. increased its stake in Five Prime Therapeutics by 43.5% in the second quarter. Vanguard Group Inc. now owns 1,472,276 shares of the company’s stock worth $60,877,000 after buying an additional 446,311 shares during the period. State Street Corp increased its stake in Five Prime Therapeutics by 28.5% in the second quarter. State Street Corp now owns 1,057,836 shares of the company’s stock worth $43,741,000 after buying an additional 234,648 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Five Prime Therapeutics by 21.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 720,526 shares of the company’s stock worth $29,794,000 after buying an additional 128,131 shares during the period. Finally, EverPoint Asset Management LLC bought a new stake in Five Prime Therapeutics during the second quarter worth about $3,101,000. Institutional investors and hedge funds own 86.47% of the company’s stock. 

Several analysts have weighed in on FPRX shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Five Prime Therapeutics in a research note on Tuesday, July 12th. Leerink Swann restated a “buy” rating and issued a $45.00 target price on shares of Five Prime Therapeutics in a research report on Friday, July 15th. Jefferies Group set a $60.00 target price on shares of Five Prime Therapeutics and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Citigroup Inc. started coverage on shares of Five Prime Therapeutics in a research report on Tuesday, October 25th. They issued a “buy” rating and a $65.00 target price for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.14.

About Five Prime Therapeutics

Five Prime Therapeutics, Inc (Five Prime) is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company 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.