Barclays Lowers FIGS (NYSE:FIGS) Price Target to $6.00

FIGS (NYSE:FIGSGet Rating) had its price objective lowered by analysts at Barclays from $9.00 to $6.00 in a research note issued on Monday, The Fly reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 9.37% from the stock’s current price.

Several other equities analysts have also weighed in on FIGS. Morgan Stanley reduced their target price on shares of FIGS from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 11th. KeyCorp began coverage on shares of FIGS in a report on Thursday, July 21st. They set a “sector weight” rating on the stock. Cowen reduced their target price on shares of FIGS to $9.00 in a report on Thursday, October 27th. Raymond James reaffirmed an “outperform” rating and set a $8.00 price target (down previously from $12.00) on shares of FIGS in a research note on Friday, November 11th. Finally, Telsey Advisory Group dropped their price target on shares of FIGS from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, FIGS currently has an average rating of “Hold” and an average target price of $15.04.

FIGS Trading Up 3.8 %

NYSE:FIGS opened at $6.62 on Monday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 30.12 and a beta of 1.35. The firm’s fifty day simple moving average is $8.44 and its 200 day simple moving average is $9.67. FIGS has a twelve month low of $5.55 and a twelve month high of $34.71.

Institutional Trading of FIGS

Several large investors have recently added to or reduced their stakes in FIGS. Macquarie Group Ltd. boosted its holdings in shares of FIGS by 44.2% during the 3rd quarter. Macquarie Group Ltd. now owns 13,289,241 shares of the company’s stock worth $109,660,000 after buying an additional 4,075,927 shares during the period. BlackRock Inc. boosted its holdings in shares of FIGS by 10.9% during the 3rd quarter. BlackRock Inc. now owns 9,780,882 shares of the company’s stock worth $80,693,000 after buying an additional 957,411 shares during the period. Vanguard Group Inc. boosted its holdings in shares of FIGS by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 8,494,827 shares of the company’s stock worth $182,809,000 after buying an additional 538,006 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of FIGS by 9.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,398,137 shares of the company’s stock worth $116,168,000 after buying an additional 457,016 shares during the period. Finally, Soros Fund Management LLC boosted its holdings in shares of FIGS by 20.4% during the 2nd quarter. Soros Fund Management LLC now owns 3,486,215 shares of the company’s stock worth $31,759,000 after buying an additional 590,000 shares during the period. 69.55% of the stock is owned by institutional investors.

About FIGS

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FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.

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