Fulcrum Therapeutics (NASDAQ:FULC) Price Target Raised to $5.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its target price for Fulcrum Therapeutics from $4.00 to $5.00, indicating a potential downside of 28.01% from recent trading levels.
• Other analysts have also provided optimistic ratings, with HC Wainwright and Leerink Partners both increasing their price targets significantly to $12.00.
• Fulcrum Therapeutics is currently valued at a market cap of $374.89 million, with a 12-month stock price range of $2.32 to $10.13.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) had its price target upped by equities research analysts at Royal Bank Of Canada from $4.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential downside of 26.79% from the stock's previous close.

A number of other research analysts have also recently issued reports on the company. HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $4.00 to $12.00 in a research note on Tuesday, July 29th. Leerink Partnrs upgraded Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Leerink Partners upgraded Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $4.00 to $12.00 in a research note on Friday, May 23rd. Cantor Fitzgerald upgraded Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price objective for the company in a research note on Thursday, May 15th. Finally, Piper Sandler reiterated an "overweight" rating and set a $9.00 price objective (up previously from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

Fulcrum Therapeutics Trading Up 1.5%

Shares of Fulcrum Therapeutics stock opened at $6.83 on Wednesday. The company has a market capitalization of $369.43 million, a P/E ratio of -5.60 and a beta of 2.47. The stock has a fifty day simple moving average of $7.17 and a 200 day simple moving average of $5.00. Fulcrum Therapeutics has a 12-month low of $2.32 and a 12-month high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. On average, analysts predict that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Institutional Trading of Fulcrum Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Algert Global LLC grew its holdings in Fulcrum Therapeutics by 6.0% during the first quarter. Algert Global LLC now owns 36,147 shares of the company's stock valued at $104,000 after purchasing an additional 2,030 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Fulcrum Therapeutics by 26.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,943 shares of the company's stock worth $89,000 after acquiring an additional 2,677 shares during the period. American Century Companies Inc. boosted its stake in shares of Fulcrum Therapeutics by 2.6% in the first quarter. American Century Companies Inc. now owns 123,711 shares of the company's stock worth $356,000 after acquiring an additional 3,100 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Fulcrum Therapeutics in the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group boosted its stake in shares of Fulcrum Therapeutics by 209.7% in the first quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock worth $35,000 after acquiring an additional 8,254 shares during the period. Institutional investors 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.