Fulcrum Therapeutics (NASDAQ:FULC) Upgraded to Outperform at Leerink Partners

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) was upgraded by equities researchers at Leerink Partners from a "market perform" rating to an "outperform" rating in a note issued to investors on Friday,Benzinga reports. The firm currently has a $12.00 price target on the stock, up from their prior price target of $4.00. Leerink Partners' target price points to a potential upside of 96.08% from the stock's previous close.

FULC has been the topic of a number of other research reports. Cantor Fitzgerald upgraded 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 reiterated a "neutral" rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.83.

Fulcrum Therapeutics Stock Performance

FULC stock opened at $6.12 on Friday. The firm has a market cap of $330.35 million, a PE ratio of -19.74 and a beta of 2.29. The firm's fifty day moving average is $3.96 and its 200 day moving average is $3.88. Fulcrum Therapeutics has a one year low of $2.32 and a one year high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last announced its earnings results 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. Research analysts predict that Fulcrum Therapeutics will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC lifted its stake in Fulcrum Therapeutics by 145.8% in the fourth quarter. MetLife Investment Management LLC now owns 40,107 shares of the company's stock valued at $189,000 after buying an additional 23,792 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Fulcrum Therapeutics by 5.9% in the 4th quarter. American Century Companies Inc. now owns 120,611 shares of the company's stock valued at $567,000 after acquiring an additional 6,770 shares during the period. Wells Fargo & Company MN raised its position in Fulcrum Therapeutics by 34.4% in the 4th quarter. Wells Fargo & Company MN now owns 34,264 shares of the company's stock valued at $161,000 after purchasing an additional 8,761 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Fulcrum Therapeutics by 46.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,368 shares of the company's stock worth $247,000 after purchasing an additional 16,656 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Fulcrum Therapeutics by 176.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company's stock worth $1,728,000 after purchasing an additional 234,810 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

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.