Wedbush Reaffirms Their Hold Rating on Fate Therapeutics (FATE)

In a report released today, David Nierengarten from Wedbush maintained a Hold rating on Fate Therapeutics (FATE – Research Report), with a price target of $5.00. The company’s shares closed yesterday at $3.90.

Nierengarten covers the Healthcare sector, focusing on stocks such as Fate Therapeutics, Oric Pharmaceuticals, and Xencor. According to TipRanks, Nierengarten has an average return of 11.7% and a 44.64% success rate on recommended stocks.

In addition to Wedbush, Fate Therapeutics also received a Hold from Needham’s Gil Blum in a report issued today. However, on the same day, Barclays maintained a Buy rating on Fate Therapeutics (NASDAQ: FATE).

Based on Fate Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.68 million and a GAAP net loss of $44.12 million. In comparison, last year the company earned a revenue of $44.36 million and had a GAAP net loss of $56.36 million

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Fate Therapeutics (FATE) Company Description:

Fate Therapeutics, Inc. operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system. Its products include ProHema, ProTmune, Adaptive NK, iPSC-derived NK, Programmed CD34 and T cell therapy. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko and John D. Mendlein on April 27, 2007 and is headquartered in San Diego, CA.