Foundation Medicine (FMI) Stock Rating Upgraded by Zacks Investment Research

Foundation Medicine (NASDAQ:FMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Foundation Medicine, Inc. provides molecular information products primarily in the United States. The company offers FoundationOne(TM) a molecular information product for the analysis of routine cancer specimens in a clinical setting. Its molecular information platform generates actionable genomic information about a patient’s individual disease, enabling physicians to optimize treatments in clinical practice, and enabling biopharmaceutical companies to develop targeted oncology therapies. Foundation Medicine, Inc. is based in Cambridge, Massachusetts. “

Other equities research analysts have also recently issued research reports about the company. BidaskClub raised Foundation Medicine from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Goldman Sachs Group started coverage on Foundation Medicine in a report on Monday, January 29th. They set a “neutral” rating and a $73.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Foundation Medicine currently has a consensus rating of “Hold” and a consensus target price of $52.25.

Shares of Foundation Medicine (FMI) traded down $4.00 during trading hours on Thursday, reaching $66.50. The company had a trading volume of 274,906 shares, compared to its average volume of 246,698. Foundation Medicine has a 1 year low of $22.40 and a 1 year high of $75.20. The company has a market capitalization of $2,410.00, a PE ratio of -14.88 and a beta of -0.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.03 and a current ratio of 2.24.

In related news, Director Evan/ Fa Jones sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $60.66, for a total transaction of $394,290.00. Following the sale, the director now owns 19,652 shares of the company’s stock, valued at $1,192,090.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Steven J. Kafka sold 5,774 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $58.57, for a total value of $338,183.18. Following the sale, the chief operating officer now directly owns 96,761 shares in the company, valued at approximately $5,667,291.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,940 shares of company stock worth $11,496,731. 2.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Research Inc. increased its holdings in shares of Foundation Medicine by 172.2% in the fourth quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock valued at $5,223,000 after buying an additional 48,450 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Foundation Medicine by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 22,327 shares of the company’s stock valued at $1,523,000 after buying an additional 5,310 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Foundation Medicine in the fourth quarter valued at $1,939,000. Whittier Trust Co. increased its holdings in shares of Foundation Medicine by 1.6% in the fourth quarter. Whittier Trust Co. now owns 44,685 shares of the company’s stock valued at $3,048,000 after buying an additional 725 shares in the last quarter. Finally, California Public Employees Retirement System bought a new position in shares of Foundation Medicine in the fourth quarter valued at $608,000. 33.12% of the stock is currently owned by institutional investors.

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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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