Foundation Medicine (FMI) Receives $70.50 Average PT from Brokerages

Shares of Foundation Medicine (NASDAQ:FMI) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $70.50.

A number of research firms recently weighed in on FMI. BidaskClub lowered shares of Foundation Medicine from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Zacks Investment Research lowered shares of Foundation Medicine from a “buy” rating to a “sell” rating in a report on Wednesday, January 3rd. Cowen began coverage on shares of Foundation Medicine in a report on Thursday, February 15th. They issued an “outperform” rating and a $90.00 target price on the stock. Wells Fargo restated a “market perform” rating and issued a $80.00 target price (up previously from $67.00) on shares of Foundation Medicine in a report on Thursday, March 8th. Finally, ValuEngine upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating in a report on Monday, April 2nd.

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FMI opened at $72.80 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.90. Foundation Medicine has a fifty-two week low of $31.70 and a fifty-two week high of $87.10. The stock has a market capitalization of $2,684.99, a P/E ratio of -16.18 and a beta of -0.13.

Foundation Medicine (NASDAQ:FMI) last posted its earnings results on Wednesday, March 7th. The company reported ($1.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.08). Foundation Medicine had a negative return on equity of 207.73% and a negative net margin of 105.60%. The business had revenue of $48.90 million during the quarter, compared to analyst estimates of $48.69 million. During the same quarter in the prior year, the company earned ($1.02) EPS. The company’s revenue was up 69.8% on a year-over-year basis. equities analysts forecast that Foundation Medicine will post -4.33 EPS for the current fiscal year.

In other Foundation Medicine news, COO Steven J. Kafka sold 29,791 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $61.55, for a total value of $1,833,636.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vincent A. Miller sold 32,008 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $76.87, for a total transaction of $2,460,454.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,975 shares of company stock valued at $15,301,416. Company insiders own 2.70% of the company’s stock.

A number of large investors have recently bought and sold shares of FMI. Whittier Trust Co. increased its stake in shares of Foundation Medicine by 1.6% during the 4th quarter. Whittier Trust Co. now owns 44,685 shares of the company’s stock worth $3,048,000 after purchasing an additional 725 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Foundation Medicine by 8.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,378 shares of the company’s stock worth $708,000 after purchasing an additional 800 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Foundation Medicine by 2.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,196 shares of the company’s stock worth $2,605,000 after purchasing an additional 1,019 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Foundation Medicine by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 66,658 shares of the company’s stock worth $4,546,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Foundation Medicine by 4.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 63,030 shares of the company’s stock worth $2,534,000 after purchasing an additional 2,803 shares during the last quarter. Hedge funds and other institutional investors own 30.54% of the company’s stock.

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Foundation Medicine Company Profile

Foundation Medicine, Inc provides various molecular information products in the United States. The company's molecular information platform includes proprietary methods and algorithms to analyze specimens across various types of cancer, as well as for incorporating that information into clinical care; and offers genomic insights about each patient's individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted therapies and immunotherapies.

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