Foundation Medicine, Inc. (NASDAQ:FMI) Given Average Rating of “Hold” by Analysts
Shares of Foundation Medicine, Inc. (NASDAQ:FMI) have received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $29.25.
Several brokerages recently issued reports on FMI. BidaskClub cut Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. ValuEngine upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BTIG Research upgraded Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Monday, May 15th. Finally, William Blair restated a “buy” rating on shares of Foundation Medicine in a research note on Monday, April 3rd.
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In other Foundation Medicine news, CFO Jason Ryan sold 5,084 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $39.77, for a total value of $202,190.68. Following the sale, the chief financial officer now directly owns 66,638 shares in the company, valued at $2,650,193.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven J. Kafka sold 11,781 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $39.15, for a total value of $461,226.15. Following the completion of the sale, the chief operating officer now owns 97,549 shares in the company, valued at $3,819,043.35. The disclosure for this sale can be found here. Insiders sold 88,936 shares of company stock worth $3,472,317 over the last quarter. 2.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its position in shares of Foundation Medicine by 24.1% in the fourth quarter. GSA Capital Partners LLP now owns 11,500 shares of the company’s stock worth $204,000 after buying an additional 2,234 shares during the period. EAM Investors LLC acquired a new position in shares of Foundation Medicine during the first quarter worth approximately $732,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of Foundation Medicine by 0.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,610,865 shares of the company’s stock worth $51,950,000 after buying an additional 7,347 shares during the period. Teachers Advisors LLC raised its position in shares of Foundation Medicine by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 23,071 shares of the company’s stock worth $408,000 after buying an additional 2,538 shares during the period. Finally, Creative Planning raised its position in shares of Foundation Medicine by 10.0% in the first quarter. Creative Planning now owns 4,400 shares of the company’s stock worth $142,000 after buying an additional 400 shares during the period. 31.50% of the stock is currently owned by institutional investors.
Shares of Foundation Medicine (FMI) traded down 3.22% during mid-day trading on Tuesday, hitting $37.55. 257,188 shares of the stock traded hands. The stock’s market cap is $1.34 billion. The stock has a 50-day moving average of $39.19 and a 200 day moving average of $29.62. Foundation Medicine has a one year low of $17.10 and a one year high of $43.15.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by $0.29. Foundation Medicine had a negative return on equity of 80.75% and a negative net margin of 126.17%. The firm had revenue of $26.32 million for the quarter, compared to the consensus estimate of $29.07 million. During the same quarter last year, the business earned ($0.50) earnings per share. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. Equities analysts predict that Foundation Medicine will post ($4.34) EPS for the current fiscal year.
About Foundation Medicine
Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.
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