Shares of Foundation Medicine Inc (NASDAQ:FMI) have been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $81.00.
A number of brokerages recently issued reports on FMI. Zacks Investment Research upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a report on Wednesday, July 4th. BidaskClub cut shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th.
NASDAQ FMI remained flat at $$137.00 during trading on Friday. The company has a market capitalization of $5.09 billion, a PE ratio of -30.44 and a beta of -0.10. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.98 and a current ratio of 2.27. Foundation Medicine has a one year low of $31.70 and a one year high of $137.20.
Several institutional investors have recently added to or reduced their stakes in FMI. Wells Fargo & Company MN grew its stake in Foundation Medicine by 7.9% during the 1st quarter. Wells Fargo & Company MN now owns 24,083 shares of the company’s stock valued at $1,896,000 after purchasing an additional 1,756 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Foundation Medicine by 3.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 71,566 shares of the company’s stock valued at $5,636,000 after purchasing an additional 2,062 shares during the last quarter. Aperio Group LLC purchased a new stake in Foundation Medicine during the 1st quarter valued at about $219,000. Russell Investments Group Ltd. grew its stake in Foundation Medicine by 19.6% during the 1st quarter. Russell Investments Group Ltd. now owns 21,486 shares of the company’s stock valued at $1,692,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in Foundation Medicine during the 1st quarter valued at about $315,000. Institutional investors own 33.17% of the company’s stock.
About Foundation Medicine
Foundation Medicine, Inc provides various molecular information products in the United States. The company's molecular information platform includes proprietary methods and algorithms to analyze specimens across various types of cancer, as well as for incorporating that information into clinical care; and offers genomic insights about each patient's individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted therapies and immunotherapies.
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