Fate Therapeutics (FATE) PT Raised to $7 at BMO Capital

BMO Capital raised its price target on Fate Therapeutics (NASDAQ: FATE) to $7.00 (from $4.00) while maintaining a Outperform rating.

Analyst Do Kim commented, "We are raising our price target to $7 from $4, following 4Q16 earnings that underlined growing interesting in Fate's earlier stage assets, NK100 and iPSC. Our DCF valuation increases as we assign value for these therapies to continue revenue growth beyond ProTmune. We expect ProTmune Phase I interim data in mid-2017 and NK100 to enroll its first AML patient in 2Q17. Fate's hnCD16-iNK could start human trials by early 2018. While we see tremendous potential in the NK100 and iPSC platforms, we wait for clinical validation before including them in our model."

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