Five Prime Therapeutics Receives a Buy from Credit Suisse

By Ryan Adsit

Credit Suisse analyst Kennen MacKay reiterated a Buy rating on Five Prime Therapeutics (NASDAQ: FPRX) today and set a price target of $54. The company’s shares opened today at $48.91.

MacKay wrote:

“We currently model sales for FPA008 in NSCLC, SCCHN, ovarian, and RCC and FPA144 in FGFR2B high expressors, while FPA144 sales in FGFR2b low espressors and bladder cancer remain potential upside. We await guidance at FPRX’s upcoming analyst day (Dec 8) for potential guidance regarding cabiralizumab, FPA144, and FPA154 development.”

According to, MacKay is a 4-star analyst with an average return of 5.7% and a 48.6% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Akebia Therapeutics, Puma Biotechnology, and Seattle Genetics.

Currently, the analyst consensus on Five Prime Therapeutics is Strong Buy and the average price target is $59.50, representing a 21.7% upside.

In a report issued on October 25, Citigroup also initiated coverage with a Buy rating on the stock with a $65 price target.

The company has a one year high of $55 and a one year low of $28.01. Currently, Five Prime Therapeutics has an average volume of 389.5K.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FPRX in relation to earlier this year. Last month, Lee Douglas, a Director at FPRX bought 2,439 shares for a total of $3,000.

Five Prime Therapeutics, Inc. is a clinical-stage biotechnology company, which focuses on discovering and developing novel protein therapeutics. The company advanced product candidates includes, FPA008, FPA144 and FP-1039/GSK3052230. The FPA008 is an antibody that inhibits colony stimulating factor-1, or CSF1, receptor, or CSF1R, that are developing in rheumatoid arthritis and plan to clinically develop in pigmented villonodular synovitis, or PVNS, and in combination with nivolumab in multiple cancers. The FPA144 is an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, that are developing to treat patients with gastric (stomach) cancer. The FP-1039/GSK3052230 is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors. Five Prime Therapeutics was founded by Lewis T. Williams in December 2001 and is headquartered in South San Francisco, CA.