Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) Receives $15.60 Average Target Price from Brokerages

Shares of Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.60.

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $15.00 price objective on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. ValuEngine cut Xylem from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Barclays reiterated a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, June 11th.

In other news, Director Anna Kazanchyan sold 10,600 shares of Foamix Pharmaceuticals stock in a transaction on Monday, May 20th. The stock was sold at an average price of $2.61, for a total transaction of $27,666.00. Following the sale, the director now directly owns 55,955 shares in the company, valued at approximately $146,042.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 16,353 shares of company stock worth $41,153 over the last quarter. Company insiders own 2.95% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Worth Venture Partners LLC bought a new stake in Foamix Pharmaceuticals in the 4th quarter valued at about $48,000. Steward Partners Investment Advisory LLC raised its stake in Foamix Pharmaceuticals by 29.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 17,155 shares of the specialty pharmaceutical company’s stock valued at $64,000 after acquiring an additional 3,900 shares during the period. Van ECK Associates Corp raised its stake in Foamix Pharmaceuticals by 75.1% in the 4th quarter. Van ECK Associates Corp now owns 19,752 shares of the specialty pharmaceutical company’s stock valued at $71,000 after acquiring an additional 8,474 shares during the period. Delek Group Ltd. bought a new stake in Foamix Pharmaceuticals in the 1st quarter valued at about $189,000. Finally, IPG Investment Advisors LLC bought a new stake in Foamix Pharmaceuticals in the 1st quarter valued at about $231,000. Institutional investors own 56.38% of the company’s stock.

NASDAQ:FOMX traded up $0.06 during trading hours on Friday, hitting $2.37. 2,850 shares of the company traded hands, compared to its average volume of 250,683. The business’s 50-day simple moving average is $2.48. Foamix Pharmaceuticals has a one year low of $2.21 and a one year high of $7.60. The firm has a market cap of $125.73 million, a P/E ratio of -1.38 and a beta of 1.62.

Foamix Pharmaceuticals (NASDAQ:FOMX) last issued its quarterly earnings data on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Foamix Pharmaceuticals had a negative net margin of 2,115.11% and a negative return on equity of 79.46%. The company had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.95 million. Research analysts predict that Foamix Pharmaceuticals will post -1.61 earnings per share for the current year.

About Foamix Pharmaceuticals

Foamix Pharmaceuticals Ltd., a late clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations for dermatological therapy in the United States, France, Denmark, and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline that has completed third pivotal Phase III clinical trial for the treatment of moderate-to-severe acne; and FMX103, which is in Phase III clinical trial for the treatment of moderate-to-severe papulopustular rosacea.

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Analyst Recommendations for Foamix Pharmaceuticals (NASDAQ:FOMX)

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