Fulgent Genetics (NASDAQ:FLGT) Earns Outperform Rating from Raymond James

Fulgent Genetics (NASDAQ:FLGT - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Raymond James in a research report issued on Monday, MarketBeat.com reports. They currently have a $25.00 target price on the stock, up from their previous target price of $24.00. Raymond James' target price indicates a potential upside of 33.83% from the company's current price.

FLGT has been the topic of several other reports. Piper Sandler cut their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. StockNews.com raised Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th.

Fulgent Genetics Price Performance

NASDAQ:FLGT traded down $0.14 during trading hours on Monday, reaching $18.68. 333,267 shares of the company traded hands, compared to its average volume of 268,909. The firm's 50-day moving average is $17.66 and its 200-day moving average is $18.07. The stock has a market cap of $576.61 million, a P/E ratio of -3.38 and a beta of 1.00. Fulgent Genetics has a 1-year low of $14.57 and a 1-year high of $25.11.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.22. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The company had revenue of $73.46 million for the quarter, compared to the consensus estimate of $71.26 million. During the same period last year, the business posted ($0.01) EPS. The company's quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts predict that Fulgent Genetics will post -0.85 earnings per share for the current year.

Insider Transactions at Fulgent Genetics

In related news, CFO Paul Kim purchased 100,000 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the transaction, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 33.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Fulgent Genetics by 45.5% during the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock worth $39,000 after acquiring an additional 667 shares during the period. Russell Investments Group Ltd. raised its stake in Fulgent Genetics by 267.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock valued at $50,000 after buying an additional 1,960 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Fulgent Genetics during the 4th quarter valued at $57,000. State of Wyoming bought a new stake in shares of Fulgent Genetics during the 4th quarter worth about $57,000. Finally, R Squared Ltd acquired a new position in shares of Fulgent Genetics in the fourth quarter valued at approximately $74,000. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

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.