Brokerages Set $7.00 Price Target for Fulgent Genetic (FLGT)

Fulgent Genetic (NASDAQ:FLGT) has been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Fulgent Genetic’s rating score has declined by 33.3% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokers have set a 1-year consensus price objective of $7.00 for the company, according to Zacks. Zacks has also given Fulgent Genetic an industry rank of 220 out of 265 based on the ratings given to its competitors.

Several analysts have issued reports on the stock. Piper Jaffray Companies restated a “buy” rating on shares of Fulgent Genetic in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Raymond James Financial downgraded shares of Fulgent Genetic from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, November 7th. ValuEngine raised shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Credit Suisse Group decreased their price target on shares of Fulgent Genetic from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, August 8th.

In other news, insider Ming Hsieh purchased 10,504 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $3.30 per share, for a total transaction of $34,663.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 31,488 shares of company stock worth $105,569. Corporate insiders own 58.80% of the company’s stock.

Several large investors have recently bought and sold shares of FLGT. Bank of New York Mellon Corp purchased a new stake in Fulgent Genetic in the first quarter worth approximately $122,000. William Blair Investment Management LLC raised its position in Fulgent Genetic by 10.4% in the second quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock worth $4,091,000 after acquiring an additional 60,508 shares during the period. Finally, Granahan Investment Management Inc. MA raised its position in Fulgent Genetic by 145.5% in the third quarter. Granahan Investment Management Inc. MA now owns 238,232 shares of the company’s stock worth $1,141,000 after acquiring an additional 141,182 shares during the period. Hedge funds and other institutional investors own 13.42% of the company’s stock.

Fulgent Genetic (FLGT) traded up $0.10 during midday trading on Friday, reaching $3.65. 73,200 shares of the company’s stock traded hands, compared to its average volume of 46,241. Fulgent Genetic has a twelve month low of $2.72 and a twelve month high of $13.90. The stock has a market capitalization of $65.05 and a price-to-earnings ratio of 174.50.

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About Fulgent Genetic

Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.

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