Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX) has received an average recommendation of "Buy" from the seven brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $62.00.
FMTX has been the subject of several research reports. Oppenheimer restated a "buy" rating on shares of Forma Therapeutics in a research report on Thursday, March 18th. HC Wainwright raised their price target on shares of Forma Therapeutics from $53.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, March 31st. Finally, Zacks Investment Research downgraded Forma Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday, February 18th.
FMTX stock traded down $1.78 during midday trading on Friday, reaching $26.55. 11,978 shares of the company's stock traded hands, compared to its average volume of 474,620. The company has a 50-day simple moving average of $31.54 and a two-hundred day simple moving average of $39.10. Forma Therapeutics has a 1-year low of $22.51 and a 1-year high of $56.33.
Forma Therapeutics (NASDAQ:FMTX) last announced its earnings results on Monday, March 29th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.12. On average, equities analysts expect that Forma Therapeutics will post -4.09 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new position in shares of Forma Therapeutics in the 4th quarter valued at $32,000. Pacer Advisors Inc. acquired a new position in Forma Therapeutics in the fourth quarter valued at about $42,000. Morgan Stanley boosted its holdings in Forma Therapeutics by 13,970.8% during the third quarter. Morgan Stanley now owns 3,377 shares of the company's stock worth $168,000 after buying an additional 3,353 shares during the last quarter. Strs Ohio bought a new position in Forma Therapeutics during the third quarter worth about $199,000. Finally, Citigroup Inc. increased its stake in shares of Forma Therapeutics by 516.7% in the 4th quarter. Citigroup Inc. now owns 4,773 shares of the company's stock valued at $167,000 after acquiring an additional 3,999 shares during the last quarter. 67.28% of the stock is owned by hedge funds and other institutional investors.
About Forma Therapeutics
Forma Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development and commercialization of novel therapeutics for treatment of rare hematologic diseases and cancers. Its core product candidates for development include FT-4202, which is Phase 1 trial for the treatment of sickle cell disease and other hemoglobinopathies; and FT-7051 for the treatment of metastatic castration-resistant prostate cancer.
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