Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX – Get Rating) – Analysts at Oppenheimer issued their Q1 2023 earnings per share (EPS) estimates for shares of Forma Therapeutics in a research report issued on Sunday, May 8th. Oppenheimer analyst M. Breidenbach forecasts that the company will post earnings of ($0.97) per share for the quarter. Oppenheimer also issued estimates for Forma Therapeutics’ Q2 2023 earnings at ($0.97) EPS, Q3 2023 earnings at ($0.88) EPS and Q4 2023 earnings at ($0.90) EPS.
Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Forma Therapeutics in a research report on Friday, April 1st. Zacks Investment Research upgraded shares of Forma Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $46.00.
Forma Therapeutics (NASDAQ:FMTX – Get Rating) last issued its quarterly earnings data on Friday, May 6th. The company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.11. During the same quarter in the prior year, the firm earned ($0.76) EPS.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Forma Therapeutics by 2.3% in the third quarter. BlackRock Inc. now owns 3,409,686 shares of the company’s stock valued at $79,070,000 after purchasing an additional 75,561 shares in the last quarter. State Street Corp lifted its stake in shares of Forma Therapeutics by 23.6% during the 4th quarter. State Street Corp now owns 1,802,670 shares of the company’s stock worth $25,634,000 after buying an additional 344,670 shares during the last quarter. EDBI Pte Ltd acquired a new position in shares of Forma Therapeutics during the 4th quarter worth approximately $18,042,000. Point72 Asset Management L.P. acquired a new position in shares of Forma Therapeutics during the 4th quarter worth approximately $8,474,000. Finally, Geode Capital Management LLC grew its position in shares of Forma Therapeutics by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 553,776 shares of the company’s stock worth $7,874,000 after purchasing an additional 61,407 shares in the last quarter. 87.22% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Frank D. Lee sold 17,981 shares of the stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $9.78, for a total transaction of $175,854.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd Shegog sold 5,687 shares of the stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $9.78, for a total transaction of $55,618.86. The disclosure for this sale can be found here. Insiders sold 33,585 shares of company stock worth $328,461 over the last 90 days. 4.32% of the stock is currently owned by company insiders.
Forma Therapeutics Company Profile (Get Rating)
Forma Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on development and commercialization of novel therapeutics for treatment of rare hematologic diseases and cancers. Its core product candidates for development include FT-4202, which is Phase 1 trial for the treatment of sickle cell disease and other hemoglobinopathies; and FT-7051 for the treatment of metastatic castration-resistant prostate cancer.
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