Fulgent Genetics, Inc. (NASDAQ:FLGT) Receives Average Recommendation of “Moderate Buy” from Analysts

Fulgent Genetics, Inc. (NASDAQ:FLGTGet Rating) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $71.25.

Several brokerages have recently issued reports on FLGT. Raymond James began coverage on Fulgent Genetics in a research note on Friday, November 18th. They issued an “outperform” rating and a $45.00 price objective on the stock. StockNews.com began coverage on Fulgent Genetics in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet cut Fulgent Genetics from a “b-” rating to a “c+” rating in a research note on Thursday, July 28th. Credit Suisse Group cut their price target on Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. Finally, Piper Sandler cut their price target on Fulgent Genetics from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CFO Paul Kim sold 662 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $41.39, for a total value of $27,400.18. Following the sale, the chief financial officer now owns 149,507 shares of the company’s stock, valued at approximately $6,188,094.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fulgent Genetics news, COO Jian Xie sold 675 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $44.18, for a total value of $29,821.50. Following the sale, the chief operating officer now owns 309,729 shares of the company’s stock, valued at approximately $13,683,827.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Kim sold 662 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $41.39, for a total value of $27,400.18. Following the completion of the sale, the chief financial officer now directly owns 149,507 shares in the company, valued at approximately $6,188,094.73. The disclosure for this sale can be found here. 29.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of FLGT. Truist Financial Corp lifted its position in shares of Fulgent Genetics by 12.3% during the 1st quarter. Truist Financial Corp now owns 22,654 shares of the company’s stock valued at $1,413,000 after acquiring an additional 2,490 shares during the period. Comerica Bank raised its position in shares of Fulgent Genetics by 3.4% during the 1st quarter. Comerica Bank now owns 16,297 shares of the company’s stock worth $972,000 after purchasing an additional 540 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Fulgent Genetics during the 1st quarter worth approximately $44,000. Versor Investments LP acquired a new position in shares of Fulgent Genetics during the 1st quarter worth approximately $768,000. Finally, Commonwealth Equity Services LLC raised its position in shares of Fulgent Genetics by 3.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,219 shares of the company’s stock worth $1,261,000 after purchasing an additional 646 shares during the last quarter. 43.22% of the stock is currently owned by institutional investors and hedge funds.

Fulgent Genetics Stock Up 1.4 %

FLGT opened at $36.49 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of 4.19 and a beta of 1.54. Fulgent Genetics has a 52 week low of $31.07 and a 52 week high of $109.55. The business has a fifty day simple moving average of $37.80 and a 200-day simple moving average of $47.50.

Fulgent Genetics (NASDAQ:FLGTGet Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.13. The business had revenue of $105.66 million for the quarter, compared to analysts’ expectations of $103.70 million. Fulgent Genetics had a return on equity of 22.10% and a net margin of 33.82%. Sell-side analysts expect that Fulgent Genetics will post 4.93 earnings per share for the current year.

Fulgent Genetics Company Profile

(Get Rating)

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.

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