Wells Fargo & Co reaffirmed their market perform rating on shares of Foundation Medicine (NASDAQ:FMI) in a report issued on Thursday morning. They currently have a $80.00 price target on the stock, up from their prior price target of $67.00.
FMI has been the subject of a number of other reports. BidaskClub upgraded Foundation Medicine from a hold rating to a buy rating in a research note on Wednesday, December 27th. Zacks Investment Research upgraded Foundation Medicine from a hold rating to a buy rating and set a $66.00 target price for the company in a research note on Wednesday, December 6th. Cowen assumed coverage on Foundation Medicine in a research note on Thursday, February 15th. They issued an outperform rating and a $90.00 target price for the company. Finally, Goldman Sachs Group assumed coverage on Foundation Medicine in a research note on Monday, January 29th. They issued a neutral rating and a $73.00 target price for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Foundation Medicine has an average rating of Buy and an average target price of $69.60.
Foundation Medicine (NASDAQ FMI) opened at $86.15 on Thursday. Foundation Medicine has a 1-year low of $29.90 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.67 and a current ratio of 1.86.
In related news, insider Vincent A. Miller sold 32,008 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $76.87, for a total value of $2,460,454.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven J. Kafka sold 29,791 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $61.55, for a total value of $1,833,636.05. The disclosure for this sale can be found here. Insiders sold 277,852 shares of company stock valued at $18,786,273 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new stake in Foundation Medicine in the fourth quarter valued at $205,000. BlueCrest Capital Management Ltd bought a new stake in Foundation Medicine in the fourth quarter valued at $239,000. Financial Advocates Investment Management bought a new stake in Foundation Medicine in the fourth quarter valued at $239,000. UBS Asset Management Americas Inc. bought a new stake in Foundation Medicine in the fourth quarter valued at $241,000. Finally, Raymond James & Associates bought a new stake in Foundation Medicine in the fourth quarter valued at $244,000. Hedge funds and other institutional investors own 32.88% 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. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.
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