Morgan Stanley Lowers Fusion Pharmaceuticals (NASDAQ:FUSN) Price Target to $21.00

Fusion Pharmaceuticals (NASDAQ:FUSN) had its price target decreased by equities researchers at Morgan Stanley from $23.00 to $21.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 103.88% from the stock’s current price.

Several other equities analysts have also recently commented on FUSN. Zacks Investment Research upgraded Fusion Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 31st. Bloom Burton reiterated a “buy” rating on shares of Fusion Pharmaceuticals in a research note on Thursday, December 17th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.25.

Shares of NASDAQ:FUSN opened at $10.30 on Tuesday. Fusion Pharmaceuticals has a 52-week low of $9.31 and a 52-week high of $19.00. The company has a 50 day moving average of $11.34 and a two-hundred day moving average of $12.09.

Fusion Pharmaceuticals (NASDAQ:FUSN) last issued its quarterly earnings data on Wednesday, March 24th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.13). On average, analysts anticipate that Fusion Pharmaceuticals will post 12.45 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in FUSN. Victory Capital Management Inc. lifted its stake in Fusion Pharmaceuticals by 18.4% during the fourth quarter. Victory Capital Management Inc. now owns 179,524 shares of the company’s stock worth $2,110,000 after purchasing an additional 27,916 shares during the last quarter. BlackRock Inc. lifted its stake in Fusion Pharmaceuticals by 1.5% during the third quarter. BlackRock Inc. now owns 459,918 shares of the company’s stock worth $5,528,000 after purchasing an additional 6,727 shares during the last quarter. Pivotal bioVenture Partners Investment Advisor LLC bought a new position in Fusion Pharmaceuticals during the fourth quarter worth $18,781,000. Federated Hermes Inc. lifted its stake in Fusion Pharmaceuticals by 2.9% during the fourth quarter. Federated Hermes Inc. now owns 525,000 shares of the company’s stock worth $6,169,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Norges Bank bought a new position in Fusion Pharmaceuticals during the fourth quarter worth $588,000. Institutional investors own 61.35% of the company’s stock.

About Fusion Pharmaceuticals

Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines. The company has developed Targeted Alpha Therapies platform together with its proprietary Fast-Clear linker technology to enable us to connect alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha particle payloads to tumors.

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