Fulcrum Therapeutics (NASDAQ:FULC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a research report released on Thursday morning, Benzinga reports. HC Wainwright currently has a $17.00 target price on the stock.

A number of other brokerages have also issued reports on FULC. The Goldman Sachs Group upgraded Fulcrum Therapeutics from a neutral rating to a buy rating and raised their target price for the stock from $6.00 to $15.00 in a research note on Monday, May 13th. Cantor Fitzgerald restated an overweight rating and issued a $23.00 price objective on shares of Fulcrum Therapeutics in a research note on Wednesday, July 10th. Finally, Oppenheimer dropped their target price on Fulcrum Therapeutics from $16.00 to $14.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $15.57.

Fulcrum Therapeutics Price Performance

Fulcrum Therapeutics stock traded down $0.98 during midday trading on Thursday, reaching $8.57. The company’s stock had a trading volume of 396,011 shares, compared to its average volume of 720,549. The stock has a market capitalization of $534.77 million, a P/E ratio of -5.97 and a beta of 2.29. The stock’s 50-day simple moving average is $7.57 and its 200-day simple moving average is $8.23. Fulcrum Therapeutics has a 52-week low of $3.14 and a 52-week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Monday, May 13th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.01. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. As a group, equities research analysts expect that Fulcrum Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in shares of Fulcrum Therapeutics by 869.6% during the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares in the last quarter. Rhumbline Advisers grew its holdings in Fulcrum Therapeutics by 5,417.9% in the second quarter. Rhumbline Advisers now owns 91,432 shares of the company’s stock valued at $567,000 after purchasing an additional 89,775 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Fulcrum Therapeutics during the 2nd quarter worth approximately $1,158,000. Assenagon Asset Management S.A. purchased a new position in shares of Fulcrum Therapeutics during the 2nd quarter valued at approximately $3,084,000. Finally, SG Americas Securities LLC grew its stake in Fulcrum Therapeutics by 113.8% in the 2nd quarter. SG Americas Securities LLC now owns 26,093 shares of the company’s stock valued at $162,000 after acquiring an additional 13,887 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.