Forward Pharma (FWP) Receives $17.00 Average PT from Analysts

Forward Pharma (NASDAQ:FWP) has been assigned an average rating of “Buy” from the four ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several brokerages recently commented on FWP. ValuEngine lowered Forward Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub raised Forward Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWP. Baupost Group LLC MA lifted its position in Forward Pharma by 1.6% during the third quarter. Baupost Group LLC MA now owns 6,463,265 shares of the biotechnology company’s stock valued at $39,232,000 after purchasing an additional 99,206 shares in the last quarter. Newtyn Management LLC purchased a new position in Forward Pharma during the third quarter valued at $1,584,000. Finally, BVF Inc. IL lifted its position in Forward Pharma by 137.4% during the fourth quarter. BVF Inc. IL now owns 3,455,117 shares of the biotechnology company’s stock valued at $12,646,000 after purchasing an additional 2,000,000 shares in the last quarter. Institutional investors own 20.86% of the company’s stock.

Shares of FWP traded down $0.02 during trading hours on Monday, hitting $2.28. The stock had a trading volume of 27,832 shares, compared to its average volume of 64,796. Forward Pharma has a 12 month low of $2.02 and a 12 month high of $30.00.

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About Forward Pharma

Forward Pharma A/S operates as a biopharmaceutical company. The company focuses on developing FP187, a proprietary formulation of dimethyl fumarate, which has been completed Phase II clinical trials used for the treatment of various inflammatory and neurological indications, including multiple sclerosis and other immune disorders, such as psoriasis.

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