Five Prime Therapeutics (NASDAQ:FPRX) shares are trading higher on Monday after Wedbush upgraded the company's stock from Neutral to Outperform and raised its price target from $5 to $9.
Five Prime Therapeutics is a biotechnology company focused on discovering and developing protein therapeutics for diseases. The company's product candidates address patient populations for which therapies are still needed. Its is focused on advancing its internal pipeline and retaining rights for products in targeted specialty markets.
It also seeks to establish additional collaborations to supplement its internal development capabilities. These collaborations generate additional funding in order to further validate the company's technology. It has the following product in pipeline: Cabiralizumab, FPA150, Bemarituzumab and Immuno-Oncology.
Five Prime Therapeutics shares were trading up 20.53% at $5.30 on Monday. The stock has a 52-week high of $6.54 and a 52-week low of $1.75.