Foundation Medicine (FMI) Posts Quarterly Earnings, Misses Estimates By $0.01 EPS
Foundation Medicine (NYSE:FMI) posted its quarterly earnings results on Tuesday. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.48) by $0.01, Analyst Ratings Net reports. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $13.39 million.
Shares of Foundation Medicine (NYSE:FMI) traded up 5.56% during mid-day trading on Tuesday, hitting $25.65. 205,244 shares of the company’s stock traded hands. Foundation Medicine has a 52-week low of $19.513 and a 52-week high of $45.00. The stock’s 50-day moving average is $25.54 and its 200-day moving average is $28.29. The company’s market cap is $723.1 million.
A number of research firms have recently commented on FMI. Analysts at Tigress Financial initiated coverage on shares of Foundation Medicine in a research note on Friday, August 1st. They set a “neutral” rating on the stock. 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. Six 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 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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