Zacks: Fulgent Genetics Inc (FLGT) Receives Average Rating of “Buy” from Brokerages

Fulgent Genetics Inc (NASDAQ:FLGT) has been given an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Fulgent Genetics’ rating score has declined by 33.3% from three months ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price target of $7.00 for the company and are predicting that the company will post ($0.02) EPS for the current quarter, according to Zacks. Zacks has also assigned Fulgent Genetics an industry rank of 226 out of 265 based on the ratings given to related companies.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Credit Suisse Group cut their price objective on shares of Fulgent Genetics from $10.00 to $7.50 and set an “outperform” rating on the stock in a report on Tuesday, November 7th. ValuEngine upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Raymond James Financial cut shares of Fulgent Genetics from an “outperform” rating to a “mkt perform” rating in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Fulgent Genetics in a report on Tuesday, October 24th.

Shares of Fulgent Genetics (NASDAQ:FLGT) traded up $0.24 during midday trading on Friday, hitting $4.46. 36,800 shares of the company traded hands, compared to its average volume of 24,700. Fulgent Genetics has a one year low of $2.72 and a one year high of $13.90. The stock has a market capitalization of $75.30, a PE ratio of 211.25 and a beta of 0.21.

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 33,488 shares of company stock worth $112,769. Corporate insiders own 58.80% of the company’s stock.

A hedge fund recently raised its stake in Fulgent Genetics stock. Granahan Investment Management Inc. MA boosted its stake in shares of Fulgent Genetics Inc (NASDAQ:FLGT) by 145.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,232 shares of the company’s stock after purchasing an additional 141,182 shares during the period. Granahan Investment Management Inc. MA owned about 1.34% of Fulgent Genetics worth $1,141,000 at the end of the most recent reporting period. 13.42% of the stock is currently owned by institutional investors and hedge funds.

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About Fulgent Genetics

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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