Forty Seven Inc (FTSV) Gets a Buy Rating from H.C. Wainwright

By Jason Carr

H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Forty Seven Inc (FTSVResearch Report) today and set a price target of $21. The company’s shares closed on Friday at $16.03.

Ramakanth said:

“We maintain our Buy rating on FTSV and our 12-month price target of $21.00 per share. We derive our price target based on a risk-based NPV (rNPV) analysis of projected 5F9 revenues through 2030 assuming a 12% discount rate and 3% terminal growth rate. We derive rNPV of $975M for 5F9 and add in cash, cash equivalents, and short-term investments of $154M to arrive at a 12-month price target of $20.79 per diluted share, which we round to $21.00.”

According to TipRanks.com, Ramakanth has 0 stars on 0-5 star ranking scale with an average return of -5.8% and a 30.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.

Currently, the analyst consensus on Forty Seven Inc is a Strong Buy with an average price target of $30.67, a 91.3% upside from current levels. In a report issued on January 11, Oppenheimer also maintained a Buy rating on the stock with a $35 price target.

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Based on Forty Seven Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $21.66 million. In comparison, last year the company had a GAAP net loss of $10.83 million.

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Forty Seven, Inc. develops therapies that target cancer immune evasion pathways. It develops Hu5F9-G4, a monoclonal antibody against human CD47 that potentially has applications spanning multiple tumor types and treatment modalities.