Foamix Pharmaceuticals Ltd. (FOMX) Rating Lowered to Hold at Zacks Investment Research
Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Foamix Pharmaceuticals Ltd. is a specialty pharmaceutical company. It develops and commercializes foam-based formulations acne, impetigo, and other skin conditions. The Company’s lead product candidates include FMX101, which has completed a dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has completed a Phase II clinical trial for the treatment of impetigo. It has operations primarily in the United States, Germany, and Israel. Foamix Pharmaceuticals Ltd. is headquartered in Rehovot, Israel. “
A number of other research analysts also recently commented on the company. Guggenheim reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $10.00) on shares of Foamix Pharmaceuticals in a research note on Saturday, August 13th. TheStreet raised Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd.
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Foamix Pharmaceuticals (NASDAQ:FOMX) traded down 3.77% on Tuesday, reaching $9.20. 86,870 shares of the company’s stock were exchanged. The company’s market cap is $282.08 million. Foamix Pharmaceuticals has a 52 week low of $5.48 and a 52 week high of $10.40. The stock’s 50 day moving average is $9.34 and its 200 day moving average is $7.55.
Foamix Pharmaceuticals (NASDAQ:FOMX) last posted its quarterly earnings results on Wednesday, August 10th. The specialty pharmaceutical company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. The company earned $1.50 million during the quarter, compared to analyst estimates of $1.10 million. Foamix Pharmaceuticals had a negative net margin of 1,201.01% and a negative return on equity of 21.87%. On average, equities analysts anticipate that Foamix Pharmaceuticals will post ($0.87) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC acquired a new position in Foamix Pharmaceuticals during the second quarter worth about $5,048,000. Deerfield Management Co. boosted its position in Foamix Pharmaceuticals by 35.1% in the second quarter. Deerfield Management Co. now owns 1,282,058 shares of the specialty pharmaceutical company’s stock worth $8,141,000 after buying an additional 333,124 shares in the last quarter. Opaleye Management Inc. boosted its position in Foamix Pharmaceuticals by 17.8% in the second quarter. Opaleye Management Inc. now owns 695,000 shares of the specialty pharmaceutical company’s stock worth $4,413,000 after buying an additional 105,000 shares in the last quarter. Paloma Partners Management Co acquired a new position in Foamix Pharmaceuticals during the second quarter worth about $585,000. Finally, Laurion Capital Management LP acquired a new position in Foamix Pharmaceuticals during the second quarter worth about $415,000. Hedge funds and other institutional investors own 46.37% of the company’s stock.
About Foamix Pharmaceuticals
Foamix Pharmaceuticals Ltd. is a clinical-stage specialty pharmaceutical company. The Company is focused on developing and commercializing its minocycline foam for the treatment of acne, rosacea, impetigo and other skin conditions. The Company operates in the segment of development and commercialization of foam-based formulations.
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