Foundation Medicine, Inc. (NASDAQ:FMI) Rating Lowered to Hold at BidaskClub
Foundation Medicine, Inc. (NASDAQ:FMI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.
FMI has been the topic of a number of other research reports. William Blair reiterated a “buy” rating on shares of Foundation Medicine in a research note on Monday, April 3rd. Zacks Investment Research 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 target price on the stock in a research note on Monday, May 15th. Finally, ValuEngine upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Foundation Medicine presently has an average rating of “Hold” and an average target price of $28.60.
Shares of Foundation Medicine (NASDAQ FMI) traded down 1.45% on Wednesday, hitting $37.45. 95,647 shares of the stock traded hands. The firm’s market cap is $1.33 billion. Foundation Medicine has a 52-week low of $17.10 and a 52-week high of $43.15. The firm has a 50 day moving average price of $39.97 and a 200 day moving average price of $31.57.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($1.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by $0.29. Foundation Medicine had a negative net margin of 126.17% and a negative return on equity of 80.75%. The company had revenue of $26.32 million for the quarter, compared to analysts’ expectations of $29.07 million. During the same quarter in the previous year, the company posted ($0.50) EPS. The business’s quarterly revenue was down 13.3% on a year-over-year basis. On average, equities analysts forecast that Foundation Medicine will post ($4.34) EPS for the current year.
In other news, CFO Jason Ryan sold 5,084 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $39.77, for a total transaction of $202,190.68. Following the transaction, the chief financial officer now owns 66,638 shares of the company’s stock, valued at approximately $2,650,193.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert W. Hesslein sold 5,070 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $38.84, for a total value of $196,918.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,936 shares of company stock worth $3,472,317. Insiders own 2.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in 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 last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Foundation Medicine by 5.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,898 shares of the company’s stock worth $193,000 after buying an additional 583 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Foundation Medicine by 65.8% in the first quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after buying an additional 2,452 shares during the last quarter. GSA Capital Partners LLP increased its stake 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 last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Foundation Medicine during the first quarter worth $218,000. 31.50% of the stock is currently owned by institutional investors and hedge funds.
Foundation Medicine Company Profile
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.
Receive News & Ratings for Foundation Medicine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Medicine Inc. and related companies with MarketBeat.com's FREE daily email newsletter.