Zacks: Fulgent Genetics (FLGT) Given Consensus Rating of “Hold” by Brokerages

Shares of Fulgent Genetics (NASDAQ:FLGT) have received an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Fulgent Genetics’ rating score has declined by 50% from three months ago as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus target price of $4.35 for the company, according to Zacks. Zacks has also assigned Fulgent Genetics an industry rank of 114 out of 265 based on the ratings given to its competitors.

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Several equities research analysts have recently commented on FLGT shares. Zacks Investment Research raised Fulgent Genetics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Piper Jaffray lowered Fulgent Genetics from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 1st. Finally, Credit Suisse Group decreased their price target on Fulgent Genetics from $6.50 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, March 1st.

Large investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. purchased a new stake in shares of Fulgent Genetics during the 4th quarter worth approximately $154,000. Royce & Associates LP purchased a new stake in Fulgent Genetics in the 4th quarter valued at approximately $219,000. Finally, Mutual Advisors LLC purchased a new stake in Fulgent Genetics in the 4th quarter valued at approximately $1,662,000. 7.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:FLGT opened at $3.99 on Tuesday. Fulgent Genetics has a 12 month low of $2.72 and a 12 month high of $10.83.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.06). The firm had revenue of $4.28 million for the quarter, compared to analysts’ expectations of $5.26 million. Fulgent Genetics had a negative return on equity of 4.05% and a negative net margin of 14.21%.

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Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.

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