Latest Stocks: Zacks Investment Research Upgrades Foundation Medicine Inc (FMI) to Hold

Latest Stocks: Zacks Investment Research Upgrades Foundation Medicine Inc (FMI) to Hold

Foundation Medicine Inc (NASDAQ:FMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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 also recently issued research reports about the company. ValuEngine upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday. BTIG Research upgraded Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a report on Monday, May 15th. Janney Montgomery Scott upgraded Foundation Medicine from a “sell” rating to a “neutral” rating and set a $31.00 price target for the company in a report on Tuesday, March 7th. Finally, William Blair restated a “buy” rating on shares of Foundation Medicine in a report on Monday, April 3rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $30.25.

Shares of Foundation Medicine (FMI) opened at 40.60 on Friday. Foundation Medicine has a 12 month low of $16.95 and a 12 month high of $41.10. The firm’s market capitalization is $1.45 billion. The firm’s 50-day moving average price is $35.79 and its 200-day moving average price is $27.20. Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by $0.29. The company had revenue of $26.32 million during the quarter, compared to the consensus estimate of $29.07 million. Foundation Medicine had a negative net margin of 84.67% and a negative return on equity of 42.21%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.50) EPS. On average, equities analysts anticipate that Foundation Medicine will post ($4.40) earnings per share for the current year.

Shares of Foundation Medicine (FMI) opened at 40.60 on Friday. Foundation Medicine has a 12 month low of $16.95 and a 12 month high of $41.10. The firm’s market capitalization is $1.45 billion. The firm’s 50-day moving average price is $35.79 and its 200-day moving average price is $27.20. In other Foundation Medicine news, insider David Daly sold 2,070 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $31.96, for a total value of $66,157.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Ryan sold 12,500 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $31.68, for a total value of $396,000.00. Following the completion of the sale, the chief financial officer now owns 56,230 shares of the company’s stock, valued at $1,781,366.40. The disclosure for this sale can be found here. Insiders sold 71,354 shares of company stock valued at $2,384,997 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Foundation Medicine by 10.0% in the first quarter. Creative Planning now owns 4,400 shares of the company’s stock worth $142,000 after buying an additional 400 shares during the last quarter. Bank of America Corp DE increased its position in Foundation Medicine by 65.8% in the first quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after buying an additional 2,452 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Foundation Medicine during the first quarter worth about $218,000. KCG Holdings Inc. purchased a new position in Foundation Medicine during the first quarter worth about $256,000. Finally, American International Group Inc. increased its position in Foundation Medicine by 7.1% in the first quarter. American International Group Inc. now owns 8,287 shares of the company’s stock worth $267,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 31.44% of the company’s stock. Foundation Medicine Company Profile

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