Foamix Pharmaceuticals (NASDAQ:FOMX) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Foamix Pharmaceuticals (NASDAQ:FOMX) from a buy rating to a strong-buy rating in a report released on Friday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on FOMX. HC Wainwright reiterated a buy rating and issued a $11.00 price objective (up previously from $10.00) on shares of Foamix Pharmaceuticals in a research note on Monday, October 21st. Zacks Investment Research upgraded shares of Foamix Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, October 22nd. Finally, Cowen set a $30.00 price objective on shares of Foamix Pharmaceuticals and gave the stock a buy rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $15.40.

Shares of Foamix Pharmaceuticals stock opened at $4.70 on Friday. Foamix Pharmaceuticals has a twelve month low of $1.97 and a twelve month high of $4.84. The company has a quick ratio of 5.72, a current ratio of 5.72 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $3.45 and a two-hundred day simple moving average of $3.10. The stock has a market capitalization of $289.43 million, a price-to-earnings ratio of -3.62 and a beta of 1.59.

Foamix Pharmaceuticals (NASDAQ:FOMX) last issued its quarterly earnings data on Monday, November 11th. The specialty pharmaceutical company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.07). On average, sell-side analysts anticipate that Foamix Pharmaceuticals will post -1.66 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Foamix Pharmaceuticals by 1,759.8% in the 2nd quarter. Renaissance Technologies LLC now owns 323,600 shares of the specialty pharmaceutical company’s stock valued at $770,000 after buying an additional 306,200 shares in the last quarter. grace capital grew its holdings in Foamix Pharmaceuticals by 86.9% during the 2nd quarter. grace capital now owns 20,000 shares of the specialty pharmaceutical company’s stock worth $48,000 after acquiring an additional 9,300 shares during the last quarter. Stifel Financial Corp bought a new stake in Foamix Pharmaceuticals during the 3rd quarter worth approximately $54,000. Royal Bank of Canada grew its holdings in Foamix Pharmaceuticals by 76.5% during the 2nd quarter. Royal Bank of Canada now owns 13,694 shares of the specialty pharmaceutical company’s stock worth $33,000 after acquiring an additional 5,937 shares during the last quarter. Finally, Phoenix Holdings Ltd. bought a new stake in Foamix Pharmaceuticals during the 3rd quarter worth approximately $186,000. Institutional investors own 46.94% of the company’s stock.

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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