Foundation Medicine Inc (FMI) Receives Average Rating of “Buy” from Brokerages
Foundation Medicine Inc (NASDAQ:FMI) has received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $45.33.
Several brokerages have recently commented on FMI. BidaskClub upgraded Foundation Medicine from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Foundation Medicine from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Wednesday, December 6th.
Shares of Foundation Medicine (NASDAQ:FMI) opened at $58.45 on Friday. Foundation Medicine has a 1-year low of $17.10 and a 1-year high of $70.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.03 and a current ratio of 2.24.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16. The firm had revenue of $42.66 million for the quarter, compared to analyst estimates of $37.99 million. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. The company’s revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.90) EPS. analysts anticipate that Foundation Medicine will post -4.44 EPS for the current year.
In related news, SVP Robert W. Hesslein sold 2,165 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.80, for a total transaction of $84,002.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Ryan sold 3,154 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.80, for a total value of $122,375.20. The disclosure for this sale can be found here. Insiders have sold a total of 85,457 shares of company stock worth $4,675,638 over the last quarter. Corporate insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Fiduciary Trust Co. bought a new position in Foundation Medicine during the 2nd quarter worth approximately $119,000. Legal & General Group Plc grew its position in 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 acquiring an additional 274 shares during the last quarter. Bank of America Corp DE grew its position in Foundation Medicine by 65.8% during the 1st quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after acquiring an additional 2,452 shares during the last quarter. SG Americas Securities LLC grew its position in Foundation Medicine by 36.6% during the 3rd quarter. SG Americas Securities LLC now owns 6,481 shares of the company’s stock worth $261,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Voya Investment Management LLC bought a new position in Foundation Medicine during the 2nd quarter worth approximately $262,000. Institutional investors and hedge funds own 33.44% of the company’s stock.
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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