Brokerages Set Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Price Target at $9.33

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) have received an average recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $9.33.

FULC has been the topic of a number of research analyst reports. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $3.00 in a report on Thursday, September 12th. Cantor Fitzgerald downgraded shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 12th. Leerink Partners restated a “market perform” rating and set a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, September 12th. Bank of America downgraded shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and cut their target price for the company from $10.00 to $2.00 in a research report on Thursday, September 12th. Finally, Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 12th.

Fulcrum Therapeutics Stock Up 4.2 %

Shares of NASDAQ:FULC opened at $3.82 on Tuesday. Fulcrum Therapeutics has a 12 month low of $2.87 and a 12 month high of $13.70. The company’s 50-day moving average price is $7.06 and its two-hundred day moving average price is $7.49. The firm has a market cap of $237.43 million, a P/E ratio of -2.39 and a beta of 2.21.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.93. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $80.00 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. As a group, equities analysts predict that Fulcrum Therapeutics will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Fulcrum Therapeutics by 26.5% in the 3rd quarter. SG Americas Securities LLC now owns 33,019 shares of the company’s stock valued at $118,000 after acquiring an additional 6,926 shares during the period. Algert Global LLC raised its holdings in Fulcrum Therapeutics by 202.1% during the 2nd quarter. Algert Global LLC now owns 41,303 shares of the company’s stock worth $256,000 after buying an additional 27,633 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Fulcrum Therapeutics during the 2nd quarter worth approximately $152,000. Caxton Associates LP acquired a new stake in Fulcrum Therapeutics during the 2nd quarter worth approximately $117,000. Finally, Marshall Wace LLP raised its holdings in Fulcrum Therapeutics by 47.7% during the 2nd quarter. Marshall Wace LLP now owns 333,161 shares of the company’s stock worth $2,066,000 after buying an additional 107,588 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Fulcrum Therapeutics Company Profile

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 is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.