Janney Montgomery Scott Initiates Coverage on Foundation Medicine (FMI)
Investment analysts at Janney Montgomery Scott began coverage on shares of Foundation Medicine (NYSE:FMI) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $28.00 price target on the stock. Janney Montgomery Scott’s target price indicates a potential upside of 14.05% from the stock’s previous close.
In other Foundation Medicine news, COO Steven J. Kafka sold 5,000 shares of Foundation Medicine stock in a transaction that occurred on Thursday, June 19th. The stock was sold at an average price of $24.46, for a total transaction of $122,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Foundation Medicine (NYSE:FMI) opened at 24.55 on Wednesday. Foundation Medicine has a one year low of $19.513 and a one year high of $45.00. The stock’s 50-day moving average is $23.10 and its 200-day moving average is $28.33. The company’s market cap is $692.1 million.
Foundation Medicine (NYSE:FMI) last released its earnings data on Wednesday, May 7th. The company reported ($0.44) EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was up 120.2% on a year-over-year basis. On average, analysts predict that Foundation Medicine will post $-1.81 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Foundation Medicine presently has an average rating of “Hold” and an average target price of $38.80.
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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