According to Zacks, “Foundation Medicine, Inc. provides molecular information products primarily in the United States. The company offers FoundationOne(TM) a molecular information product for the analysis of routine cancer specimens in a clinical setting. Its molecular information platform generates actionable genomic information about a patient’s individual disease, enabling physicians to optimize treatments in clinical practice, and enabling biopharmaceutical companies to develop targeted oncology therapies. Foundation Medicine, Inc. is based in Cambridge, Massachusetts. “
FMI has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a hold rating and set a $25.00 price target on shares of Foundation Medicine in a research note on Wednesday, August 3rd. Janney Montgomery Scott lowered Foundation Medicine from a neutral rating to a sell rating and set a $15.00 price target for the company. in a research note on Wednesday, August 3rd. Finally, BTIG Research reissued a hold rating on shares of Foundation Medicine in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $20.00.
Shares of Foundation Medicine (NASDAQ:FMI) traded up 0.20% during mid-day trading on Tuesday, hitting $23.10. The stock had a trading volume of 2,411 shares. Foundation Medicine has a 12 month low of $13.34 and a 12 month high of $25.31. The company’s market cap is $806.81 million. The stock’s 50-day moving average is $22.58 and its 200 day moving average is $20.30.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by $0.05. Foundation Medicine had a negative net margin of 78.06% and a negative return on equity of 34.56%. The firm had revenue of $28.24 million for the quarter, compared to the consensus estimate of $26.72 million. During the same period in the previous year, the company posted ($0.98) earnings per share. Foundation Medicine’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities research analysts forecast that Foundation Medicine will post ($3.12) earnings per share for the current fiscal year.
In other news, SVP Robert W. Hesslein sold 1,220 shares of Foundation Medicine stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $23.65, for a total value of $28,853.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Steven J. Kafka sold 2,135 shares of Foundation Medicine stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $23.62, for a total value of $50,428.70. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Foundation Medicine by 7,965.2% in the first quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $675,000 after buying an additional 37,038 shares during the period. State Treasurer State of Michigan acquired a new position in shares of Foundation Medicine during the second quarter valued at $224,000. Murphy Michael R increased its position in shares of Foundation Medicine by 9.3% in the first quarter. Murphy Michael R now owns 1,558,392 shares of the company’s stock valued at $28,332,000 after buying an additional 132,029 shares during the period. Strs Ohio increased its position in shares of Foundation Medicine by 262.5% in the second quarter. Strs Ohio now owns 14,500 shares of the company’s stock valued at $270,000 after buying an additional 10,500 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Foundation Medicine by 7.8% in the first quarter. Bessemer Group Inc. now owns 7,250 shares of the company’s stock valued at $132,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 30.97% of the company’s stock.
About Foundation Medicine
Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. The Company’s segment is the business of delivering molecular information about cancer to its customers. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies.
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