Fulgent Genetics (NASDAQ:FLGT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Fulgent Genetics from “sell” to “strong sell,” adding to a generally cautious analyst backdrop for the stock.
• Other analysts have also turned more negative or cautious: Piper Sandler kept a neutral rating but cut its price target to $15 from $30, while consensus among analysts is currently Hold with an average target of $27.
• Fulgent’s latest quarter beat EPS expectations at $0.16 vs. $0.02, but revenue came in slightly below estimates and the company continues to report negative profitability metrics and weak forward EPS guidance.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on FLGT. Piper Sandler reaffirmed a "neutral" rating and set a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday. Zacks Research cut shares of Fulgent Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.00.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $15.96 on Friday. The firm has a fifty day moving average price of $15.82 and a 200-day moving average price of $22.66. The stock has a market cap of $474.81 million, a PE ratio of -6.68 and a beta of 0.88. Fulgent Genetics has a 1 year low of $13.46 and a 1 year high of $31.04.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The firm had revenue of $83.34 million during the quarter, compared to analysts' expectations of $85.38 million. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. Fulgent Genetics has set its FY 2026 guidance at -1.450--1.450 EPS. On average, research analysts expect that Fulgent Genetics will post -2.81 EPS for the current year.

Hedge Funds Weigh In On Fulgent Genetics

A number of institutional investors and hedge funds have recently made changes to their positions in FLGT. Farther Finance Advisors LLC grew its stake in shares of Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock worth $35,000 after buying an additional 548 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Fulgent Genetics in the 4th quarter worth $35,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Fulgent Genetics by 214.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company's stock worth $48,000 after buying an additional 1,251 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Fulgent Genetics in the 2nd quarter worth about $49,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Fulgent Genetics in the 4th quarter worth about $56,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc NASDAQ: FLGT is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company's infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent's product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.

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