Foundation Medicine (FMI) Upgraded at BidaskClub
BidaskClub upgraded shares of Foundation Medicine (NASDAQ:FMI) from a hold rating to a buy rating in a research report released on Friday.
A number of other analysts have also commented on the company. Zacks Investment Research lowered Foundation Medicine from a buy rating to a hold rating in a report on Tuesday, November 7th. Cowen assumed coverage on Foundation Medicine in a report on Thursday, February 15th. They issued an outperform rating and a $90.00 target price for the company. Finally, Goldman Sachs Group assumed coverage on Foundation Medicine in a report on Monday, January 29th. They issued a neutral rating and a $73.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $59.80.
Foundation Medicine (FMI) traded up $1.15 during mid-day trading on Friday, reaching $82.20. The company had a trading volume of 233,143 shares, compared to its average volume of 264,446. Foundation Medicine has a one year low of $26.10 and a one year high of $84.30. The company has a current ratio of 2.24, a quick ratio of 2.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $3,020.00, a price-to-earnings ratio of -18.39 and a beta of -0.21.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new position in Foundation Medicine during the fourth quarter valued at $488,000. Castleark Management LLC purchased a new position in Foundation Medicine during the fourth quarter valued at $1,333,000. Financial Advocates Investment Management purchased a new position in Foundation Medicine during the fourth quarter valued at $239,000. Millennium Management LLC purchased a new position in shares of Foundation Medicine in the fourth quarter valued at about $1,777,000. Finally, Raymond James & Associates purchased a new position in shares of Foundation Medicine in the fourth quarter valued at about $244,000. Institutional investors own 30.86% of the company’s stock.
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.
Receive News & Ratings for Foundation Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Medicine and related companies with MarketBeat.com's FREE daily email newsletter.