Fulcrum Therapeutics (NASDAQ:FULC) Rating Increased to Buy at HC Wainwright

HC Wainwright upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from a neutral rating to a buy rating in a report published on Tuesday morning, Marketbeat.com reports. HC Wainwright currently has $12.00 price objective on the stock, up from their prior price objective of $4.00.

FULC has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $9.00 price target (up previously from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. Leerink Partnrs raised Fulcrum Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. Leerink Partners raised Fulcrum Therapeutics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $4.00 to $12.00 in a research note on Friday, May 23rd. Finally, Cantor Fitzgerald raised Fulcrum Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 price target for the company in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.43.

Fulcrum Therapeutics Stock Performance

Shares of Fulcrum Therapeutics stock opened at $7.59 on Tuesday. Fulcrum Therapeutics has a 52-week low of $2.32 and a 52-week high of $10.13. The stock has a market capitalization of $409.71 million, a price-to-earnings ratio of -108.41 and a beta of 2.37. The company’s 50 day moving average price is $7.14 and its 200-day moving average price is $4.94.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. As a group, equities research analysts forecast that Fulcrum Therapeutics will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in shares of Fulcrum Therapeutics during the first quarter valued at $30,000. Brooklyn Investment Group increased its holdings in shares of Fulcrum Therapeutics by 209.7% during the first quarter. Brooklyn Investment Group now owns 12,190 shares of the company’s stock valued at $35,000 after acquiring an additional 8,254 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Fulcrum Therapeutics during the fourth quarter valued at $38,000. Virtu Financial LLC bought a new position in shares of Fulcrum Therapeutics during the first quarter valued at $39,000. Finally, Mariner LLC bought a new position in shares of Fulcrum Therapeutics during the fourth quarter valued at $78,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About Fulcrum Therapeutics

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 is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.