Fusion Pharmaceuticals (NASDAQ:FUSN) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Fusion Pharmaceuticals (NASDAQ:FUSN) in a research report report published on Tuesday morning, RTT News reports. Wedbush currently has a $13.00 price objective on the stock.

Several other equities research analysts have also recently commented on the company. B. Riley restated a buy rating and set a $13.00 price target on shares of Fusion Pharmaceuticals in a research note on Tuesday, October 3rd. Raymond James cut their price target on Fusion Pharmaceuticals from $13.00 to $12.00 and set an outperform rating for the company in a research note on Monday, August 28th. Finally, Oppenheimer assumed coverage on Fusion Pharmaceuticals in a report on Thursday, September 28th. They issued an outperform rating and a $13.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $11.17.

Fusion Pharmaceuticals Stock Performance

Shares of FUSN opened at $4.49 on Tuesday. The company has a current ratio of 12.16, a quick ratio of 12.16 and a debt-to-equity ratio of 0.17. The firm has a market cap of $309.81 million, a PE ratio of -2.33 and a beta of -1.33. The company’s 50 day simple moving average is $3.38 and its 200-day simple moving average is $3.80. Fusion Pharmaceuticals has a 12-month low of $2.00 and a 12-month high of $5.63.

Fusion Pharmaceuticals (NASDAQ:FUSN) last announced its earnings results on Tuesday, August 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.30 million. Fusion Pharmaceuticals had a negative net margin of 26,656.52% and a negative return on equity of 52.38%. As a group, equities analysts predict that Fusion Pharmaceuticals will post -1.69 EPS for the current year.

Institutional Investors Weigh In On Fusion Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in shares of Fusion Pharmaceuticals by 81.4% in the 1st quarter. Federated Hermes Inc. now owns 5,849,100 shares of the company’s stock worth $22,051,000 after buying an additional 2,625,000 shares in the last quarter. FMR LLC boosted its position in shares of Fusion Pharmaceuticals by 73.9% in the 1st quarter. FMR LLC now owns 4,681,457 shares of the company’s stock worth $17,649,000 after buying an additional 1,989,403 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Fusion Pharmaceuticals in the 1st quarter worth about $10,405,000. Sphera Funds Management LTD. boosted its position in shares of Fusion Pharmaceuticals by 3.6% in the 2nd quarter. Sphera Funds Management LTD. now owns 1,329,258 shares of the company’s stock worth $6,208,000 after buying an additional 45,721 shares in the last quarter. Finally, Eagle Health Investments LP purchased a new stake in shares of Fusion Pharmaceuticals in the 2nd quarter worth about $3,177,000. 72.85% of the stock is currently owned by hedge funds and other institutional investors.

About Fusion Pharmaceuticals

Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines in Canada and the United States. Its lead product candidates include FPI-2265 that is in Phase 2 clinical trial to treat prostate-specific membrane antigens; and FPI-1434 that is in Phase 1 clinical trial as a monotherapy in patients with solid tumors expressing insulin-like growth factor 1 receptor.