Foundation Medicine (FMI) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Foundation Medicine (NASDAQ:FMI) from a sell rating to a hold rating in a report published on Thursday.

According to Zacks, “Foundation Medicine, Inc. provides molecular information products primarily in the United States. The company offers FoundationOne(TM) a molecular information product for the analysis of routine cancer specimens in a clinical setting. Its molecular information platform generates actionable genomic information about a patient’s individual disease, enabling physicians to optimize treatments in clinical practice, and enabling biopharmaceutical companies to develop targeted oncology therapies. Foundation Medicine, Inc. is based in Cambridge, Massachusetts. “

A number of other equities analysts have also issued reports on the stock. Goldman Sachs Group began coverage on shares of Foundation Medicine in a research report on Monday, January 29th. They set a neutral rating and a $73.00 target price on the stock. BidaskClub upgraded shares of Foundation Medicine from a hold rating to a buy rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Foundation Medicine presently has an average rating of Hold and a consensus price target of $52.25.

Foundation Medicine (NASDAQ:FMI) opened at $64.85 on Thursday. Foundation Medicine has a one year low of $22.40 and a one year high of $75.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.24 and a quick ratio of 2.03.

In related news, COO Steven J. Kafka sold 5,774 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $58.57, for a total transaction of $338,183.18. Following the completion of the sale, the chief operating officer now directly owns 96,761 shares of the company’s stock, valued at $5,667,291.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vincent A. Miller sold 20,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $61.17, for a total value of $1,223,400.00. Following the sale, the insider now directly owns 99,984 shares of the company’s stock, valued at $6,116,021.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,717 shares of company stock worth $14,987,592. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. acquired a new stake in shares of Foundation Medicine during the fourth quarter worth $241,000. Bank of New York Mellon Corp lifted its holdings in shares of Foundation Medicine by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 66,658 shares of the company’s stock worth $4,546,000 after purchasing an additional 1,081 shares during the period. Advisory Research Inc. lifted its holdings in shares of Foundation Medicine by 172.2% during the fourth quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock worth $5,223,000 after purchasing an additional 48,450 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Foundation Medicine by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 22,327 shares of the company’s stock worth $1,523,000 after purchasing an additional 5,310 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Foundation Medicine during the fourth quarter worth $1,939,000. 33.12% of the stock is owned by hedge funds and other institutional investors.

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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. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.

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