Insider Selling: Foundation Medicine SVP Unloads 1,180 Shares of Stock (FMI)
Foundation Medicine (NYSE:FMI) SVP Jason Ryan sold 1,180 shares of the company’s stock on the open market in a transaction dated Thursday, June 26th. The shares were sold at an average price of $25.00, for a total transaction of $29,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on FMI. Analysts at Janney Montgomery Scott initiated coverage on shares of Foundation Medicine in a research note on Wednesday, June 25th. They set a “neutral” rating and a $28.00 price target on the stock. Separately, 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. Finally, 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.80.
Foundation Medicine (NYSE:FMI) traded up 3.37% on Monday, hitting $26.96. 292,305 shares of the company’s stock traded hands. Foundation Medicine has a one year low of $19.513 and a one year high of $45.00. The stock has a 50-day moving average of $23.08 and a 200-day moving average of $28.33. The company’s market cap is $760.1 million.
Foundation Medicine (NYSE:FMI) last announced its earnings results on Wednesday, May 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the 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 revenue for the quarter was up 120.2% on a year-over-year basis. On average, analysts predict that Foundation Medicine will post $-1.82 earnings per share for the current fiscal year.
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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