Analysts Set Foundation Medicine Inc (FMI) Target Price at $35.00

Foundation Medicine Inc (NASDAQ:FMI) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

A number of research analysts have recently commented on the company. BidaskClub lowered Foundation Medicine from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Zacks Investment Research lowered Foundation Medicine from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd.

In related news, CFO Jason Ryan sold 9,731 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $50.00, for a total transaction of $486,550.00. Following the completion of the transaction, the chief financial officer now owns 52,601 shares of the company’s stock, valued at $2,630,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steven J. Kafka sold 5,774 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $58.57, for a total value of $338,183.18. Following the transaction, the chief operating officer now directly owns 96,761 shares of the company’s stock, valued at approximately $5,667,291.77. The disclosure for this sale can be found here. Insiders have sold 71,837 shares of company stock valued at $4,289,412 in the last ninety days. Company insiders own 2.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in FMI. Lord Abbett & CO. LLC boosted its stake in Foundation Medicine by 146.0% during the second quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock valued at $23,024,000 after buying an additional 343,770 shares in the last quarter. Peregrine Capital Management LLC bought a new position in Foundation Medicine during the third quarter valued at about $13,299,000. State Street Corp boosted its stake in Foundation Medicine by 124.2% during the second quarter. State Street Corp now owns 526,775 shares of the company’s stock valued at $20,947,000 after buying an additional 291,815 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Foundation Medicine by 42.0% during the second quarter. Baillie Gifford & Co. now owns 248,300 shares of the company’s stock valued at $9,870,000 after buying an additional 73,500 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Foundation Medicine by 8.2% during the second quarter. Vanguard Group Inc. now owns 631,339 shares of the company’s stock valued at $25,096,000 after buying an additional 47,843 shares in the last quarter. 32.68% of the stock is owned by institutional investors and hedge funds.

Shares of Foundation Medicine (NASDAQ:FMI) traded down $1.60 on Wednesday, hitting $67.10. The stock had a trading volume of 285,500 shares, compared to its average volume of 376,393. The firm has a market capitalization of $2,430.00, a price-to-earnings ratio of -15.01 and a beta of -0.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.24 and a quick ratio of 2.03. Foundation Medicine has a 52 week low of $17.50 and a 52 week high of $74.30.

Foundation Medicine (NASDAQ:FMI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The company 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 quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the company earned ($0.90) earnings per share. research analysts expect that Foundation Medicine will post -4.44 earnings per share for the current fiscal year.

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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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