HC Wainwright Reaffirms Buy Rating for Fulcrum Therapeutics (NASDAQ:FULC)

HC Wainwright reiterated their buy rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a report released on Thursday, Benzinga reports. The firm currently has a $17.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a neutral rating to a buy rating and increased their target price for the company from $6.00 to $15.00 in a report on Monday, May 13th. Oppenheimer dropped their price objective on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an outperform rating for the company in a research note on Tuesday, May 14th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $23.00 price objective on shares of Fulcrum Therapeutics in a research note on Wednesday, July 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $15.57.

Fulcrum Therapeutics Stock Up 6.0 %

NASDAQ FULC traded up $0.54 during trading hours on Thursday, hitting $9.55. 2,350,526 shares of the stock were exchanged, compared to its average volume of 753,127. The company has a market cap of $595.92 million, a price-to-earnings ratio of -5.97 and a beta of 2.29. Fulcrum Therapeutics has a 12-month low of $3.14 and a 12-month high of $13.70. The stock has a 50-day moving average of $7.57 and a 200 day moving average of $8.23.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.01. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. On average, equities research analysts expect that Fulcrum Therapeutics will post -1.24 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds have recently bought and sold shares of FULC. Vestal Point Capital LP acquired a new position in shares of Fulcrum Therapeutics in the 4th quarter valued at $6,919,000. ADAR1 Capital Management LLC acquired a new position in shares of Fulcrum Therapeutics in the 4th quarter valued at $4,302,000. Assenagon Asset Management S.A. acquired a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at $3,084,000. abrdn plc acquired a new position in shares of Fulcrum Therapeutics in the 4th quarter valued at $1,734,000. Finally, Mass General Brigham Inc acquired a new position in shares of Fulcrum Therapeutics in the 1st quarter valued at $1,939,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

About Fulcrum Therapeutics

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.