Foamix Pharmaceuticals (FOMX) Now Covered by Analysts at Guggenheim

Guggenheim initiated coverage on shares of Foamix Pharmaceuticals (NASDAQ:FOMX) in a research note released on Tuesday. The brokerage issued a buy rating and a $8.00 price objective on the specialty pharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. HC Wainwright set a $12.00 target price on shares of Foamix Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, November 29th. Zacks Investment Research raised shares of Foamix Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, November 29th.

Foamix Pharmaceuticals (NASDAQ:FOMX) traded down $0.02 during midday trading on Tuesday, hitting $5.59. 91,500 shares of the stock were exchanged, compared to its average volume of 159,808. Foamix Pharmaceuticals has a 1-year low of $4.03 and a 1-year high of $11.27.

Foamix Pharmaceuticals (NASDAQ:FOMX) last posted its quarterly earnings results on Tuesday, November 14th. The specialty pharmaceutical company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.03). The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $0.90 million. Foamix Pharmaceuticals had a negative return on equity of 54.81% and a negative net margin of 1,439.32%. The company’s revenue was down 64.6% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share. research analysts predict that Foamix Pharmaceuticals will post -1.34 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. AXA increased its position in Foamix Pharmaceuticals by 14.1% during the second quarter. AXA now owns 942,735 shares of the specialty pharmaceutical company’s stock worth $4,374,000 after buying an additional 116,298 shares during the last quarter. DAFNA Capital Management LLC increased its position in Foamix Pharmaceuticals by 9.2% during the second quarter. DAFNA Capital Management LLC now owns 355,667 shares of the specialty pharmaceutical company’s stock worth $1,650,000 after buying an additional 30,000 shares during the last quarter. Bank of New York Mellon Corp increased its position in Foamix Pharmaceuticals by 38.6% during the second quarter. Bank of New York Mellon Corp now owns 544,853 shares of the specialty pharmaceutical company’s stock worth $2,528,000 after buying an additional 151,849 shares during the last quarter. PDT Partners LLC acquired a new position in Foamix Pharmaceuticals during the second quarter worth $304,000. Finally, Marshall Wace North America L.P. increased its position in Foamix Pharmaceuticals by 42.7% during the second quarter. Marshall Wace North America L.P. now owns 632,819 shares of the specialty pharmaceutical company’s stock worth $3,164,000 after buying an additional 189,350 shares during the last quarter. 57.43% of the stock is currently owned by hedge funds and other institutional investors.

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About Foamix Pharmaceuticals

Foamix Pharmaceuticals Ltd. is a clinical-stage pharmaceutical company. The Company is engaged in the development and commercialization of foam-based formulations, using its technology, which includes its foam platforms. It is focused on developing and commercializing its minocycline foam for the treatment of acne, rosacea and other skin conditions.

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