BidaskClub Lowers Fluidigm (FLDM) to Buy

Fluidigm (NASDAQ:FLDM) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. UBS Group began coverage on shares of Fluidigm in a research report on Friday, March 15th. They issued a “neutral” rating and a $14.00 target price for the company. BTIG Research began coverage on shares of Fluidigm in a research report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 target price for the company. Piper Jaffray Companies increased their target price on shares of Fluidigm from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Zacks Investment Research upgraded shares of Fluidigm from a “strong sell” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, March 5th. Finally, Janney Montgomery Scott upgraded shares of Fluidigm from a “neutral” rating to a “buy” rating in a research report on Thursday, January 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $14.00.

FLDM stock opened at $12.83 on Friday. Fluidigm has a 12-month low of $4.65 and a 12-month high of $14.90. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.38 and a quick ratio of 3.04. The company has a market capitalization of $900.31 million, a price-to-earnings ratio of -16.04 and a beta of 2.43.

Fluidigm (NASDAQ:FLDM) last released its earnings results on Thursday, February 7th. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. Fluidigm had a negative net margin of 52.24% and a negative return on equity of 71.42%. The company had revenue of $32.33 million during the quarter, compared to the consensus estimate of $30.55 million. On average, research analysts expect that Fluidigm will post -0.58 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC raised its holdings in shares of Fluidigm by 0.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,535,180 shares of the medical research company’s stock valued at $33,971,000 after purchasing an additional 24,186 shares in the last quarter. Eversept Partners LP bought a new position in shares of Fluidigm during the 4th quarter valued at $435,000. Renaissance Technologies LLC raised its holdings in shares of Fluidigm by 7.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,152,800 shares of the medical research company’s stock valued at $8,634,000 after purchasing an additional 82,300 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Fluidigm by 13.2% during the 4th quarter. Acadian Asset Management LLC now owns 538,749 shares of the medical research company’s stock valued at $4,643,000 after purchasing an additional 62,686 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Fluidigm during the 4th quarter valued at $483,000. Institutional investors own 71.65% of the company’s stock.

About Fluidigm

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

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