Forward Pharma A/S (NASDAQ:FWP) reached a new 52-week low on Monday . The stock traded as low as $2.70 and last traded at $2.92, with a volume of 5500 shares traded. The stock had previously closed at $2.92.
Several equities research analysts have recently weighed in on the company. ValuEngine raised Forward Pharma A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 26th. Zacks Investment Research lowered Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, BidaskClub lowered Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.00.
Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. acquired a new stake in shares of Forward Pharma A/S in the second quarter worth $203,000. Newtyn Management LLC acquired a new stake in shares of Forward Pharma A/S in the third quarter worth $1,584,000. BVF Inc. IL boosted its position in shares of Forward Pharma A/S by 137.4% in the fourth quarter. BVF Inc. IL now owns 3,455,117 shares of the biotechnology company’s stock worth $12,646,000 after buying an additional 2,000,000 shares during the period. Finally, Baupost Group LLC MA boosted its position in shares of Forward Pharma A/S by 1.6% in the third quarter. Baupost Group LLC MA now owns 6,463,265 shares of the biotechnology company’s stock worth $39,232,000 after buying an additional 99,206 shares during the period. 16.55% of the stock is owned by institutional investors and hedge funds.
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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