Zacks Investment Research upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC – Get Rating) from a hold rating to a buy rating in a research report report published on Monday morning, Zacks.com reports. Zacks Investment Research currently has $9.75 price objective on the stock.
According to Zacks, “Fulcrum Therapeutics Inc. is a clinical-stage biopharmaceutical company. It is focused on genetically defined diseases with an initial focus on rare diseases. Fulcrum Therapeutics Inc. is based in Cambridge, United States. “
A number of other equities analysts also recently issued reports on the company. Bank of America upgraded Fulcrum Therapeutics from an underperform rating to a neutral rating in a research note on Thursday, March 3rd. Oppenheimer assumed coverage on Fulcrum Therapeutics in a research note on Monday, March 7th. They issued an outperform rating and a $33.00 price target on the stock. Morgan Stanley raised their price target on Fulcrum Therapeutics from $25.00 to $26.00 and gave the stock an overweight rating in a research note on Tuesday, April 12th. Piper Sandler dropped their price target on Fulcrum Therapeutics from $46.00 to $42.00 in a research note on Thursday, March 3rd. Finally, Credit Suisse Group raised their price target on Fulcrum Therapeutics from $30.00 to $35.00 and gave the stock an outperform rating in a research note on Friday, March 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Fulcrum Therapeutics presently has a consensus rating of Buy and a consensus price target of $31.72.
Fulcrum Therapeutics (NASDAQ:FULC – Get Rating) last issued its earnings results on Thursday, March 3rd. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.07. Fulcrum Therapeutics had a negative return on equity of 47.50% and a negative net margin of 421.89%. The business had revenue of $5.06 million for the quarter, compared to the consensus estimate of $4.00 million. During the same period last year, the business posted ($0.64) EPS. Equities analysts expect that Fulcrum Therapeutics will post -2.53 earnings per share for the current fiscal year.
In related news, Director Robert J. Gould sold 7,235 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $24.02, for a total value of $173,784.70. Following the transaction, the director now directly owns 506,630 shares of the company’s stock, valued at approximately $12,169,252.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Gould sold 34,464 shares of the firm’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $24.03, for a total value of $828,169.92. Following the sale, the director now directly owns 506,630 shares in the company, valued at $12,174,318.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,330 shares of company stock worth $1,137,211. 22.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. RTW Investments LP raised its holdings in Fulcrum Therapeutics by 20.3% during the third quarter. RTW Investments LP now owns 3,855,291 shares of the company’s stock valued at $108,758,000 after acquiring an additional 650,000 shares during the period. Suvretta Capital Management LLC grew its position in shares of Fulcrum Therapeutics by 22.3% during the fourth quarter. Suvretta Capital Management LLC now owns 2,375,571 shares of the company’s stock valued at $42,024,000 after purchasing an additional 433,602 shares in the last quarter. BlackRock Inc. grew its position in shares of Fulcrum Therapeutics by 8.7% during the fourth quarter. BlackRock Inc. now owns 2,208,078 shares of the company’s stock valued at $39,063,000 after purchasing an additional 177,205 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Fulcrum Therapeutics by 45.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,720,000 shares of the company’s stock valued at $30,427,000 after purchasing an additional 540,000 shares in the last quarter. Finally, Cowen AND Company LLC grew its position in shares of Fulcrum Therapeutics by 18.2% during the third quarter. Cowen AND Company LLC now owns 1,560,563 shares of the company’s stock valued at $44,023,000 after purchasing an additional 240,676 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.
Fulcrum Therapeutics Company Profile (Get Rating)
Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia.
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