Forward Pharma A/S (NASDAQ:FWP) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.01 and last traded at $4.11, with a volume of 18100 shares trading hands. The stock had previously closed at $4.09.
A number of research analysts have recently issued reports on the company. BidaskClub raised Forward Pharma A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 30th. ValuEngine downgraded Forward Pharma A/S from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Jefferies Group reissued a “hold” rating and issued a $6.00 price objective (up from $5.00) on shares of Forward Pharma A/S in a research note on Wednesday, September 27th. Finally, Zacks Investment Research downgraded Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Forward Pharma A/S has an average rating of “Hold” and an average target price of $17.00.
A number of hedge funds have recently bought and sold shares of FWP. Alps Advisors Inc. acquired a new position in Forward Pharma A/S during the 2nd quarter worth approximately $866,000. Alliancebernstein L.P. acquired a new position in Forward Pharma A/S during the 2nd quarter worth approximately $203,000. Cowen Inc. acquired a new position in Forward Pharma A/S during the 2nd quarter worth approximately $225,000. BlueMountain Capital Management LLC raised its stake in Forward Pharma A/S by 15.3% during the 2nd quarter. BlueMountain Capital Management LLC now owns 1,511,043 shares of the biotechnology company’s stock worth $26,982,000 after buying an additional 200,000 shares during the period. Finally, Senzar Asset Management LLC raised its stake in Forward Pharma A/S by 38.2% during the 2nd quarter. Senzar Asset Management LLC now owns 652,500 shares of the biotechnology company’s stock worth $13,265,000 after buying an additional 180,200 shares during the period. 21.57% of the stock is currently owned by institutional investors and hedge funds.
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Forward Pharma A/S Company Profile
Forward Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in the development of FP187, a formulation of dimethyl fumarate (DMF) for the treatment of several inflammatory and neurological indications, including multiple sclerosis (MS). The Company’s clinical candidate, FP187, is under development for the treatment of relapsing remitting MS (RRMS) and other immune disorders, such as psoriasis.
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