Q2 2022 Earnings Estimate for Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX) Issued By Jefferies Financial Group

Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX – Get Rating) – Analysts at Jefferies Financial Group raised their Q2 2022 earnings estimates for shares of Forma Therapeutics in a report issued on Sunday, May 8th. Jefferies Financial Group analyst M. Raycroft now expects that the company will post earnings per share of ($1.01) for the quarter, up from their previous estimate of ($1.06). Jefferies Financial Group also issued estimates for Forma Therapeutics’ Q3 2022 earnings at ($0.81) EPS, Q4 2022 earnings at ($0.87) EPS, FY2022 earnings at ($3.59) EPS, FY2023 earnings at ($2.96) EPS, FY2024 earnings at ($3.03) EPS, FY2025 earnings at ($1.87) EPS and FY2026 earnings at $0.84 EPS.

Forma Therapeutics (NASDAQ:FMTX – Get Rating) last announced its earnings results on Friday, May 6th. The company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.11. During the same quarter in the prior year, the firm posted ($0.76) EPS.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Forma Therapeutics in a research note on Friday, April 1st. Zacks Investment Research upgraded shares of Forma Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Oppenheimer lowered their target price on shares of Forma Therapeutics from $60.00 to $49.00 in a research note on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $46.00.

Shares of FMTX stock opened at $6.73 on Wednesday. Forma Therapeutics has a 12 month low of $5.79 and a 12 month high of $31.39. The stock has a market cap of $319.04 million, a PE ratio of -1.76 and a beta of 0.39. The company’s fifty day moving average price is $8.76 and its 200-day moving average price is $12.25.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in Forma Therapeutics by 5.7% during the 2nd quarter. Morgan Stanley now owns 108,462 shares of the company’s stock valued at $2,699,000 after buying an additional 5,833 shares in the last quarter. Invesco Ltd. purchased a new stake in Forma Therapeutics during the 2nd quarter valued at approximately $308,000. Wells Fargo & Company MN grew its holdings in Forma Therapeutics by 3,311.4% during the 2nd quarter. Wells Fargo & Company MN now owns 48,101 shares of the company’s stock valued at $1,198,000 after buying an additional 46,691 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Forma Therapeutics during the 3rd quarter valued at approximately $552,000. Finally, Swiss National Bank grew its holdings in Forma Therapeutics by 6.1% during the 3rd quarter. Swiss National Bank now owns 36,600 shares of the company’s stock valued at $849,000 after buying an additional 2,100 shares in the last quarter. 87.22% of the stock is owned by institutional investors.

In other news, CFO Todd Shegog sold 5,687 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $9.78, for a total transaction of $55,618.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank D. Lee sold 17,981 shares of the stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $9.78, for a total transaction of $175,854.18. The disclosure for this sale can be found here. Insiders have sold a total of 33,585 shares of company stock valued at $328,461 in the last ninety days. Insiders own 4.32% of the company’s stock.

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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