Insider Selling: Foundation Medicine SVP Sells 10,000 Shares of Stock (FMI)
Foundation Medicine (NYSE:FMI) SVP Jason Ryan sold 10,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $24.06, for a total value of $240,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Foundation Medicine (NYSE:FMI) remained flat at $24.12 during during mid-day trading trading on Friday. 193,043 shares of the company’s stock traded hands. Foundation Medicine has a 1-year low of $19.513 and a 1-year high of $45.00. The stock has a 50-day moving average of $24.67 and a 200-day moving average of $28.44. The company’s market cap is $680.0 million.
Foundation Medicine (NYSE:FMI) last announced its earnings results on Wednesday, May 7th. The company reported ($0.44) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.48) by $0.04. The company had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.33 million. Foundation Medicine’s revenue was up 120.2% compared to the same quarter last year. On average, analysts predict that Foundation Medicine will post $-1.81 earnings per share for the current fiscal year.
FMI has been the subject of a number of recent research reports. Analysts at Leerink Swann cut their price target on shares of Foundation Medicine from $36.00 to $33.00 in a research note on Friday, May 9th. Separately, analysts at William Blair initiated coverage on shares of Foundation Medicine in a research note on Thursday, April 17th. They set a “market perform” rating on the stock. Finally, analysts at JMP Securities raised their price target on shares of Foundation Medicine from $33.00 to $45.00 in a research note on Monday, March 10th. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.50.
Foundation Medicine, Inc is a commercial-stage company. The Company is focused on fundamentally changing the way patients with cancer are treated.
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