Foundation Medicine, Inc. (NASDAQ:FMI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research firms also recently weighed in on FMI. 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 report on Monday, May 15th. Zacks Investment Research upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, ValuEngine upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Foundation Medicine presently has a consensus rating of “Hold” and an average price target of $29.50.

Shares of Foundation Medicine (NASDAQ:FMI) traded down 0.96% during mid-day trading on Friday, hitting $41.40. The stock had a trading volume of 137,719 shares. The stock’s 50-day moving average price is $38.10 and its 200 day moving average price is $35.87. Foundation Medicine has a 1-year low of $17.10 and a 1-year high of $43.15. The company’s market capitalization is $1.49 billion.

Foundation Medicine (NASDAQ:FMI) last posted its earnings results on Tuesday, August 1st. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by $0.16. Foundation Medicine had a negative return on equity of 109.63% and a negative net margin of 131.79%. The firm had revenue of $35 million for the quarter, compared to analysts’ expectations of $34.94 million. During the same quarter last year, the company posted ($0.84) EPS. The firm’s revenue was up 23.9% on a year-over-year basis. On average, analysts predict that Foundation Medicine will post ($4.64) EPS for the current fiscal year.

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In other news, insider David Daly sold 6,316 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $38.84, for a total value of $245,313.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Krishna Yeshwant sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $40.01, for a total value of $192,048.00. Following the completion of the sale, the director now directly owns 5,786 shares in the company, valued at $231,497.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,552 shares of company stock worth $7,123,185. Insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its position in Foundation Medicine by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock valued at $138,000 after acquiring an additional 274 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Foundation Medicine by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,747 shares of the company’s stock valued at $467,000 after acquiring an additional 341 shares in the last quarter. American International Group Inc. lifted its position in Foundation Medicine by 7.1% in the 1st quarter. American International Group Inc. now owns 8,287 shares of the company’s stock valued at $267,000 after acquiring an additional 549 shares in the last quarter. Creative Planning lifted its position in Foundation Medicine by 15.3% in the 2nd quarter. Creative Planning now owns 5,075 shares of the company’s stock valued at $202,000 after acquiring an additional 675 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Foundation Medicine by 7.0% in the 1st quarter. Wells Fargo & Company MN now owns 10,579 shares of the company’s stock valued at $341,000 after acquiring an additional 692 shares in the last quarter. 31.84% of the stock is currently owned by hedge funds and other institutional investors.

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.

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