Fulcrum Therapeutics (NASDAQ:FULC) Given New $5.00 Price Target 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 target price lifted by research analysts at Royal Bank Of Canada from $4.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential downside of 27.59% from the company's previous close.

FULC has been the topic of a number of other reports. Leerink Partnrs upgraded Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Cantor Fitzgerald raised Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price objective on the stock in a report on Thursday, May 15th. 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 research note on Tuesday. Leerink Partners upgraded Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $4.00 to $12.00 in a research report on Friday, May 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $9.00 price target (up from $6.00) on shares of Fulcrum Therapeutics in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Fulcrum Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $7.57.

Fulcrum Therapeutics Stock Up 2.6%

Shares of NASDAQ FULC traded up $0.18 during trading on Wednesday, reaching $6.91. 179,951 shares of the stock were exchanged, compared to its average volume of 584,719. The business's 50-day moving average price is $7.16 and its 200 day moving average price is $4.97. The company has a market capitalization of $372.72 million, a price-to-earnings ratio of -5.64 and a beta of 2.37. Fulcrum Therapeutics has a twelve month low of $2.32 and a twelve month high of $10.13.

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

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FULC. Jump Financial LLC bought a new position in shares of Fulcrum Therapeutics during the 1st quarter worth about $30,000. Brooklyn Investment Group boosted its holdings 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 valued at $35,000 after buying an additional 8,254 shares during the period. BNP Paribas Financial Markets acquired a new position in Fulcrum Therapeutics during the fourth quarter worth $38,000. Virtu Financial LLC acquired a new stake in Fulcrum Therapeutics in the first quarter valued at $39,000. Finally, Mariner LLC acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth about $78,000. 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.