Tekla Capital Management LLC lessened its position in shares of Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) by 21.8% in the third quarter, HoldingsChannel reports. The firm owned 727,205 shares of the specialty pharmaceutical company’s stock after selling 203,193 shares during the period. Tekla Capital Management LLC’s holdings in Foamix Pharmaceuticals were worth $4,167,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Foamix Pharmaceuticals during the 3rd quarter worth about $166,000. Credit Suisse AG bought a new position in Foamix Pharmaceuticals during the 3rd quarter worth about $194,000. Trexquant Investment LP increased its holdings in Foamix Pharmaceuticals by 205.6% during the 3rd quarter. Trexquant Investment LP now owns 34,950 shares of the specialty pharmaceutical company’s stock worth $200,000 after purchasing an additional 23,515 shares in the last quarter. Senzar Asset Management LLC bought a new position in Foamix Pharmaceuticals during the 2nd quarter worth about $338,000. Finally, ARK Investment Management LLC increased its holdings in Foamix Pharmaceuticals by 17.7% during the 2nd quarter. ARK Investment Management LLC now owns 106,243 shares of the specialty pharmaceutical company’s stock worth $532,000 after purchasing an additional 15,980 shares in the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.
A number of equities analysts have issued reports on FOMX shares. HC Wainwright set a $12.00 target price on Foamix Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded Foamix Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a report on Wednesday, September 19th. ValuEngine cut Foamix Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. BidaskClub cut Foamix Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, Cantor Fitzgerald began coverage on Foamix Pharmaceuticals in a report on Thursday, October 11th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $13.94.
Foamix Pharmaceuticals (NASDAQ:FOMX) last announced its quarterly earnings data on Wednesday, November 7th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.07). The company had revenue of $0.87 million during the quarter, compared to the consensus estimate of $1.10 million. Foamix Pharmaceuticals had a negative net margin of 2,049.92% and a negative return on equity of 118.29%. On average, sell-side analysts expect that Foamix Pharmaceuticals Ltd will post -1.65 earnings per share for the current fiscal year.
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About Foamix Pharmaceuticals
Foamix Pharmaceuticals Ltd., a clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations primarily for the treatment of moderate-to-severe acne, moderate-to-severe papulo-pustular rosacea, and other skin conditions in the United States and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline, which has completed a double-blind and dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has completed a Phase II clinical trial for the treatment of impetigo caused by staphylococcus aureus, including methicillin-resistant staphylococcus aureus.
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