Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Fulcrum Therapeutics has received a consensus recommendation of "Moderate Buy" from eight research firms, indicating mixed confidence in its stock performance.
• Analysts have set an average 1-year price target of $7.57, with price targets ranging from $5.00 to $12.00 based on various ratings from multiple brokerages.
• The company recently reported a quarterly earnings per share of ($0.28), slightly beating analysts' expectations, and forecasts indicate a projected EPS of ($0.16) for the current fiscal year.

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.5714.

Several equities analysts recently issued reports on FULC shares. Royal Bank Of Canada boosted their price target on shares of Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $4.00 to $12.00 in a report on Tuesday, July 29th. Piper Sandler reiterated an "overweight" rating and set a $9.00 target price (up previously from $6.00) on shares of Fulcrum Therapeutics in a report on Thursday, May 29th. Wall Street Zen cut Fulcrum Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Cantor Fitzgerald raised Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price target on the stock in a research note on Thursday, May 15th.

Fulcrum Therapeutics Stock Performance

FULC opened at $6.52 on Friday. The stock's 50 day moving average price is $7.11 and its 200-day moving average price is $5.25. The stock has a market capitalization of $352.67 million, a PE ratio of -5.34 and a beta of 2.47. Fulcrum Therapeutics has a 52-week low of $2.32 and a 52-week high of $9.90.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Research analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FULC. Evergreen Capital Management LLC purchased a new stake in Fulcrum Therapeutics in the second quarter worth about $114,000. LMR Partners LLP purchased a new stake in Fulcrum Therapeutics in the second quarter worth about $344,000. Balyasny Asset Management L.P. purchased a new stake in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $9,207,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Fulcrum Therapeutics by 53.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company's stock worth $31,572,000 after buying an additional 1,589,000 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $188,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.