Telsey Advisory Group Issues Pessimistic Forecast for FIGS (NYSE:FIGS) Stock Price

FIGS (NYSE:FIGS - Get Free Report) had its price target reduced by research analysts at Telsey Advisory Group from $7.00 to $5.00 in a note issued to investors on Monday, MarketBeat reports. The firm presently has a "market perform" rating on the stock. Telsey Advisory Group's price target indicates a potential upside of 2.25% from the stock's previous close.

Several other analysts have also weighed in on the company. The Goldman Sachs Group reduced their price objective on FIGS from $4.25 to $3.75 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lowered their price target on shares of FIGS from $4.75 to $4.25 and set an "equal weight" rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.75.

FIGS Stock Performance

Shares of FIGS stock traded up $0.15 during midday trading on Monday, hitting $4.89. 2,006,039 shares of the company were exchanged, compared to its average volume of 2,883,697. FIGS has a 52 week low of $3.57 and a 52 week high of $7.06. The firm's 50 day moving average price is $4.35 and its two-hundred day moving average price is $5.20. The firm has a market capitalization of $794.72 million, a P/E ratio of 81.50, a PEG ratio of 31.62 and a beta of 1.20.

Institutional Trading of FIGS

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in shares of FIGS by 37.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company's stock worth $75,445,000 after buying an additional 3,352,846 shares during the last quarter. Raymond James Financial Inc. purchased a new position in FIGS in the 4th quarter worth approximately $12,152,000. Security Benefit Life Insurance Co. KS bought a new position in shares of FIGS during the first quarter valued at $6,962,000. Bank of New York Mellon Corp grew its stake in shares of FIGS by 83.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,315,163 shares of the company's stock worth $14,331,000 after acquiring an additional 1,052,384 shares during the period. Finally, Pacer Advisors Inc. bought a new position in FIGS in the first quarter valued at about $4,640,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.