Fulgent Genetics (NASDAQ:FLGT - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Raymond James in a research report issued on Monday, MarketBeat.com reports. They presently have a $25.00 price target on the stock, up from their prior price target of $24.00. Raymond James' target price would suggest a potential upside of 27.88% from the company's previous close.
FLGT has been the topic of several other research reports. StockNews.com raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Piper Sandler cut their price target on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th.
Read Our Latest Research Report on Fulgent Genetics
Fulgent Genetics Price Performance
Fulgent Genetics stock traded up $0.99 during mid-day trading on Monday, hitting $19.55. 369,014 shares of the company were exchanged, compared to its average volume of 270,662. Fulgent Genetics has a 12-month low of $14.57 and a 12-month high of $25.11. The company has a market capitalization of $603.43 million, a P/E ratio of -3.54 and a beta of 1.00. The business's 50 day simple moving average is $17.80 and its two-hundred day simple moving average is $18.07.
Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.22. The firm had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) EPS. Equities research analysts predict that Fulgent Genetics will post -0.85 earnings per share for the current year.
Insider Activity
In other news, CFO Paul Kim bought 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the transaction, the chief financial officer now owns 348,282 shares of the company's stock, valued at $5,558,580.72. This represents a 40.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 33.11% of the company's stock.
Institutional Investors Weigh In On Fulgent Genetics
Several institutional investors and hedge funds have recently added to or reduced their stakes in FLGT. Headlands Technologies LLC increased its position in Fulgent Genetics by 8.0% during the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock worth $119,000 after purchasing an additional 524 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Fulgent Genetics by 105.3% in the 1st quarter. Deutsche Bank AG now owns 269,770 shares of the company's stock valued at $4,559,000 after acquiring an additional 138,340 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fulgent Genetics by 16.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 243,979 shares of the company's stock valued at $4,123,000 after acquiring an additional 33,768 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Fulgent Genetics by 122.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company's stock worth $60,000 after purchasing an additional 1,963 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Fulgent Genetics in the 1st quarter valued at $324,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.
About Fulgent Genetics
(
Get Free Report)
Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.
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