The Goldman Sachs Group Cuts FIGS (NYSE:FIGS) Price Target to $3.75

FIGS (NYSE:FIGS) had its target price decreased by The Goldman Sachs Group from $4.25 to $3.75 in a research report sent to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Several other brokerages have also issued reports on FIGS. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price target on shares of FIGS in a research note on Friday, February 28th. Morgan Stanley decreased their target price on FIGS from $4.75 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, FIGS has an average rating of “Hold” and a consensus price target of $5.15.

FIGS Stock Performance

Shares of NYSE:FIGS opened at $4.10 on Tuesday. FIGS has a fifty-two week low of $3.57 and a fifty-two week high of $7.06. The company’s 50-day moving average is $4.55 and its 200 day moving average is $5.34. The company has a market capitalization of $665.52 million, a P/E ratio of 68.25, a price-to-earnings-growth ratio of 31.62 and a beta of 1.18.

Institutional Investors Weigh In On FIGS

Several institutional investors have recently made changes to their positions in FIGS. GAMMA Investing LLC raised its stake in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock valued at $30,000 after purchasing an additional 5,583 shares during the period. Sugar Maple Asset Management LLC bought a new stake in shares of FIGS during the fourth quarter valued at about $43,000. Blue Trust Inc. increased its position in shares of FIGS by 395.3% during the fourth quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock valued at $47,000 after buying an additional 6,099 shares during the period. Stifel Financial Corp purchased a new stake in shares of FIGS in the fourth quarter worth about $70,000. Finally, Cibc World Markets Corp bought a new position in shares of FIGS in the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.