Fulcrum Therapeutics (NASDAQ:FULC) Raised to Neutral at Bank of America

Bank of America upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from an underperform rating to a neutral rating in a research report report published on Monday, MarketBeat Ratings reports. Bank of America currently has $10.00 price objective on the stock, up from their prior price objective of $5.00.

FULC has been the subject of a number of other research reports. The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a neutral rating to a buy rating and lifted their target price for the stock from $6.00 to $15.00 in a research note on Monday, May 13th. HC Wainwright reissued a buy rating and issued a $17.00 price objective on shares of Fulcrum Therapeutics in a research report on Thursday, August 1st. Oppenheimer cut their target price on Fulcrum Therapeutics from $16.00 to $14.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $23.00 target price on shares of Fulcrum Therapeutics in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $15.43.

Fulcrum Therapeutics Trading Up 5.0 %

Shares of FULC stock opened at $8.85 on Monday. Fulcrum Therapeutics has a 1-year low of $3.14 and a 1-year high of $13.70. The stock has a market cap of $550.06 million, a price-to-earnings ratio of -5.53 and a beta of 2.23. The stock has a 50-day moving average of $8.52 and a 200-day moving average of $8.36.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.93. The business had revenue of $80.00 million during the quarter, compared to the consensus estimate of $80.00 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. During the same quarter in the prior year, the firm posted ($0.38) EPS. Sell-side analysts forecast that Fulcrum Therapeutics will post -0.48 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC acquired a new stake in Fulcrum Therapeutics in the fourth quarter valued at approximately $68,000. Affinity Asset Advisors LLC bought a new position in shares of Fulcrum Therapeutics in the 4th quarter worth $844,000. Vestal Point Capital LP bought a new position in shares of Fulcrum Therapeutics in the 4th quarter worth $6,919,000. ADAR1 Capital Management LLC acquired a new stake in Fulcrum Therapeutics in the 4th quarter valued at $4,302,000. Finally, Opaleye Management Inc. bought a new stake in Fulcrum Therapeutics during the 4th quarter valued at $878,000. 89.83% of the stock is owned by institutional investors.

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.