HC Wainwright Reaffirms "Buy" Rating for Fulcrum Therapeutics (NASDAQ:FULC)

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Fulcrum Therapeutics (NASDAQ:FULC) with a target price of $12.00, indicating a potential upside of 33.48% from the stock's previous close.
• The stock currently holds a consensus rating of "Moderate Buy" among analysts, with a consensus price target of $9.60.
• Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for genetically defined diseases, with key candidates in advanced clinical trials.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright's price target points to a potential upside of 33.48% from the stock's previous close.

Several other research analysts have also weighed in on FULC. Weiss Ratings restated a "sell (d-)" rating on shares of Fulcrum Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on shares of Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Fulcrum Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.60.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ:FULC opened at $8.99 on Monday. The stock has a market capitalization of $486.27 million, a price-to-earnings ratio of -7.37 and a beta of 2.93. Fulcrum Therapeutics has a one year low of $2.32 and a one year high of $9.89. The company has a 50-day simple moving average of $7.68 and a 200-day simple moving average of $6.59.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. As a group, research analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in Fulcrum Therapeutics during the 1st quarter worth $30,000. Brooklyn Investment Group raised its stake in Fulcrum Therapeutics by 209.7% during the first quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock worth $35,000 after acquiring an additional 8,254 shares during the period. Virtu Financial LLC bought a new position in Fulcrum Therapeutics in the first quarter worth about $39,000. Russell Investments Group Ltd. grew its holdings in shares of Fulcrum Therapeutics by 4,209.3% during the second quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company's stock valued at $64,000 after purchasing an additional 9,092 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Fulcrum Therapeutics by 108.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,112 shares of the company's stock valued at $65,000 after purchasing an additional 3,697 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

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.

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