Fusion Pharmaceuticals (NASDAQ:FUSN) Upgraded to Buy at Zacks Investment Research

Fusion Pharmaceuticals (NASDAQ:FUSN – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $6.25 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 7.57% from the stock’s current price.

According to Zacks, “Fusion Pharmaceuticals Inc. is a clinical-stage oncology company focused on developing radiopharmaceuticals as precision medicines. The compnay’s lead program includes FPI-1434, which is in clinical trial. Fusion Pharmaceuticals Inc. is based in Hamilton, Canada. “

Separately, Brookline Capital Management restated a “buy” rating on shares of Fusion Pharmaceuticals in a research note on Wednesday, February 2nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.08.

FUSN stock opened at $5.81 on Tuesday. The stock has a market capitalization of $251.75 million, a price-to-earnings ratio of -3.06 and a beta of -1.70. Fusion Pharmaceuticals has a 1 year low of $4.09 and a 1 year high of $10.40. The stock’s fifty day moving average is $7.41 and its two-hundred day moving average is $6.73.

Fusion Pharmaceuticals (NASDAQ:FUSN – Get Rating) last posted its earnings results on Thursday, March 17th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.07. The company had revenue of $0.59 million during the quarter. Analysts predict that Fusion Pharmaceuticals will post -1.94 EPS for the current fiscal year.

In related news, CEO John Valliant sold 4,100 shares of Fusion Pharmaceuticals stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $7.85, for a total transaction of $32,185.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 63,920 shares of company stock worth $475,504. Company insiders own 6.12% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in Fusion Pharmaceuticals by 10.6% during the third quarter. Goldman Sachs Group Inc. now owns 20,149 shares of the company’s stock worth $160,000 after acquiring an additional 1,928 shares during the period. Geode Capital Management LLC grew its holdings in Fusion Pharmaceuticals by 8.9% during the third quarter. Geode Capital Management LLC now owns 25,136 shares of the company’s stock worth $199,000 after acquiring an additional 2,047 shares during the period. Morgan Stanley grew its holdings in Fusion Pharmaceuticals by 8.0% during the third quarter. Morgan Stanley now owns 82,286 shares of the company’s stock worth $651,000 after acquiring an additional 6,074 shares during the period. Millennium Management LLC acquired a new position in Fusion Pharmaceuticals during the third quarter worth about $213,000. Finally, Sectoral Asset Management Inc acquired a new position in Fusion Pharmaceuticals during the third quarter worth about $303,000. 70.53% of the stock is currently owned by hedge funds and other institutional investors.

Fusion Pharmaceuticals Company Profile (Get Rating)

Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines. The company has developed Targeted Alpha Therapies platform together with its proprietary Fast-Clear linker technology to enable us to connect alpha particle emitting isotopes to various targeting molecules in order to selectively deliver the alpha particle payloads to tumors.

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