Fulcrum Therapeutics (NASDAQ:FULC) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC - Free Report) from a hold rating to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

Several other analysts also recently commented on FULC. Leerink Partners upgraded Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and raised their target price for the company from $4.00 to $12.00 in a research note on Friday, May 23rd. HC Wainwright restated a "neutral" rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald upgraded Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 target price for the company in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Fulcrum Therapeutics currently has an average rating of "Hold" and an average price target of $5.83.

Fulcrum Therapeutics Stock Performance

Shares of FULC stock traded up $0.55 during mid-day trading on Friday, hitting $6.90. The company's stock had a trading volume of 997,784 shares, compared to its average volume of 970,585. The company's fifty day simple moving average is $4.16 and its 200-day simple moving average is $3.95. Fulcrum Therapeutics has a 52 week low of $2.32 and a 52 week high of $10.13. The company has a market cap of $372.46 million, a PE ratio of -22.26 and a beta of 2.29.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. On average, equities analysts anticipate that Fulcrum Therapeutics will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FULC. Matisse Capital boosted its stake in Fulcrum Therapeutics by 20.4% during the 4th quarter. Matisse Capital now owns 128,445 shares of the company's stock valued at $604,000 after purchasing an additional 21,728 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Fulcrum Therapeutics by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 141,873 shares of the company's stock worth $667,000 after buying an additional 3,126 shares during the last quarter. Bailard Inc. purchased a new position in shares of Fulcrum Therapeutics in the 4th quarter worth approximately $169,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Fulcrum Therapeutics by 176.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company's stock valued at $1,728,000 after acquiring an additional 234,810 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Fulcrum Therapeutics by 74.9% during the fourth quarter. Intech Investment Management LLC now owns 30,499 shares of the company's stock valued at $143,000 after acquiring an additional 13,057 shares during the last quarter. 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.