A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Foundation Medicine from a sell rating to a hold rating in a report on Friday, March 31st. Janney Montgomery Scott raised shares of Foundation Medicine from a sell rating to a neutral rating and set a $31.00 price target on the stock in a report on Tuesday, March 7th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Foundation Medicine currently has an average rating of Hold and a consensus price target of $27.33.
Shares of Foundation Medicine (NASDAQ:FMI) traded up 0.15% during trading on Monday, hitting $32.35. 117,580 shares of the stock were exchanged. The firm’s market capitalization is $1.15 billion. Foundation Medicine has a 52 week low of $15.10 and a 52 week high of $35.30. The stock’s 50 day moving average price is $31.97 and its 200 day moving average price is $24.02.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Wednesday, February 22nd. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.06. The firm had revenue of $28.80 million for the quarter, compared to the consensus estimate of $29.23 million. Foundation Medicine had a negative net margin of 84.67% and a negative return on equity of 42.21%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.55) earnings per share. On average, equities analysts predict that Foundation Medicine will post ($3.95) earnings per share for the current year.
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In related news, insider David Daly sold 2,070 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $31.96, for a total value of $66,157.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Steven J. Kafka sold 2,157 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $31.96, for a total transaction of $68,937.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,214 shares of company stock worth $2,605,785. Insiders own 2.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of FMI. Discovery Group I LLC increased its position in Foundation Medicine by 2.3% in the fourth quarter. Discovery Group I LLC now owns 1,596,818 shares of the company’s stock worth $28,264,000 after buying an additional 36,204 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Foundation Medicine by 16.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,096,489 shares of the company’s stock worth $35,362,000 after buying an additional 154,168 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Foundation Medicine by 7.0% in the third quarter. Oppenheimer & Co. Inc. now owns 721,271 shares of the company’s stock valued at $16,842,000 after buying an additional 47,350 shares in the last quarter. ARK Investment Management LLC purchased a new position in shares of Foundation Medicine during the fourth quarter valued at $5,276,000. Finally, State Street Corp increased its position in shares of Foundation Medicine by 6.2% in the fourth quarter. State Street Corp now owns 221,817 shares of the company’s stock valued at $3,926,000 after buying an additional 12,872 shares in the last quarter. 31.44% of the stock is currently owned by institutional investors.
About Foundation Medicine
Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. The Company’s segment is the business of delivering molecular information about cancer to its customers. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies.
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