Foundation Medicine (FMI) Lifted to “Buy” at BidaskClub

Foundation Medicine (NASDAQ:FMI) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Zacks Investment Research upgraded Foundation Medicine from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $45.33.

Shares of Foundation Medicine (FMI) opened at $73.60 on Thursday. The firm has a market capitalization of $2,680.00, a price-to-earnings ratio of -16.47 and a beta of -0.01. Foundation Medicine has a 1-year low of $18.60 and a 1-year high of $74.85. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47.

Foundation Medicine (NASDAQ:FMI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.06) by $0.16. The business had revenue of $42.66 million during the quarter, compared to the consensus estimate of $37.99 million. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. Foundation Medicine’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. equities analysts anticipate that Foundation Medicine will post -4.44 EPS for the current fiscal year.

In other Foundation Medicine news, Director Evan/ Fa Jones sold 6,500 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $60.66, for a total transaction of $394,290.00. Following the completion of the sale, the director now directly owns 19,652 shares in the company, valued at approximately $1,192,090.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert W. Hesslein sold 1,864 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $64.00, for a total value of $119,296.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,271 shares of company stock valued at $11,653,281. Company insiders own 2.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FMI. Schwab Charles Investment Management Inc. boosted its position in shares of Foundation Medicine by 9.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 60,227 shares of the company’s stock worth $2,395,000 after purchasing an additional 5,404 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Foundation Medicine by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 16,628 shares of the company’s stock worth $661,000 after purchasing an additional 1,470 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Foundation Medicine by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,597 shares of the company’s stock worth $2,449,000 after purchasing an additional 835 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Foundation Medicine by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock worth $138,000 after purchasing an additional 274 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Foundation Medicine by 8.8% during the 2nd quarter. Wells Fargo & Company MN now owns 11,510 shares of the company’s stock worth $458,000 after purchasing an additional 931 shares in the last quarter. 32.66% of the stock is currently owned by institutional investors.

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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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