Brokerages Set Fulcrum Therapeutics, Inc. (NASDAQ:FULC) PT at $34.86

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULCGet Rating) have been given a consensus rating of “Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.86.

A number of research firms have weighed in on FULC. Oppenheimer began coverage on Fulcrum Therapeutics in a report on Monday, March 7th. They set an “outperform” rating and a $33.00 price objective on the stock. Zacks Investment Research downgraded Fulcrum Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, March 8th. HC Wainwright began coverage on Fulcrum Therapeutics in a report on Friday, March 4th. They set a “buy” rating and a $40.00 price objective on the stock. Credit Suisse Group lifted their target price on shares of Fulcrum Therapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Finally, Bank of America upgraded shares of Fulcrum Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 3rd.

In related news, Director Robert J. Gould sold 7,235 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $24.02, for a total value of $173,784.70. Following the completion of the transaction, the director now owns 506,630 shares in the company, valued at approximately $12,169,252.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert J. Gould sold 34,464 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $24.03, for a total transaction of $828,169.92. Following the completion of the transaction, the director now owns 506,630 shares of the company’s stock, valued at approximately $12,174,318.90. The disclosure for this sale can be found here. Insiders sold 47,330 shares of company stock valued at $1,137,211 in the last quarter. 22.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Boxer Capital LLC acquired a new stake in Fulcrum Therapeutics during the 3rd quarter worth $35,263,000. Polar Capital Holdings Plc acquired a new stake in Fulcrum Therapeutics during the 3rd quarter worth $21,158,000. Deep Track Capital LP acquired a new stake in Fulcrum Therapeutics during the 4th quarter worth $13,268,000. BlackRock Inc. grew its holdings in Fulcrum Therapeutics by 56.5% during the 3rd quarter. BlackRock Inc. now owns 2,030,873 shares of the company’s stock worth $57,290,000 after acquiring an additional 733,428 shares during the period. Finally, RTW Investments LP grew its holdings in Fulcrum Therapeutics by 20.3% during the 3rd quarter. RTW Investments LP now owns 3,855,291 shares of the company’s stock worth $108,758,000 after acquiring an additional 650,000 shares during the period. Hedge funds and other institutional investors own 90.41% of the company’s stock.

FULC stock traded down $0.27 on Friday, reaching $9.62. The company’s stock had a trading volume of 344,936 shares, compared to its average volume of 916,803. The firm has a fifty day moving average of $15.73 and a two-hundred day moving average of $16.20. Fulcrum Therapeutics has a 52 week low of $6.85 and a 52 week high of $33.10.

Fulcrum Therapeutics (NASDAQ:FULCGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.07. The company had revenue of $5.06 million for the quarter, compared to the consensus estimate of $4.00 million. Fulcrum Therapeutics had a negative return on equity of 47.50% and a negative net margin of 421.89%. During the same period in the previous year, the business earned ($0.64) earnings per share. On average, equities analysts anticipate that Fulcrum Therapeutics will post -2.58 EPS for the current fiscal year.

Fulcrum Therapeutics Company Profile (Get Rating)

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia.

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