Shares of Foundation Medicine Inc (NYSE:FMI) have earned an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat.Com reports. Eight equities research analysts have rated the stock with a hold rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $23.50.
In other Foundation Medicine news, insider David Daly sold 2,559 shares of Foundation Medicine stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $16.78, for a total value of $42,940.02. Following the completion of the transaction, the insider now directly owns 45,631 shares in the company, valued at $765,688.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Pellini bought 9,100 shares of the firm’s stock in a transaction on Friday, November 13th. The stock was bought at an average price of $16.43 per share, with a total value of $149,513.00. Following the completion of the purchase, the chief executive officer now owns 174,025 shares of the company’s stock, valued at $2,859,230.75. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in Foundation Medicine stock. Harvest Management acquired a new stake in Foundation Medicine Inc (NYSE:FMI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the company’s stock, valued at approximately $92,000.
Shares of Foundation Medicine (NYSE:FMI) traded down 8.02% during midday trading on Monday, reaching $19.37. The company’s stock had a trading volume of 455,900 shares. Foundation Medicine has a 52 week low of $15.58 and a 52 week high of $54.28. The firm’s market capitalization is $667.32 million. The firm’s 50 day moving average is $18.18 and its 200 day moving average is $23.04.
Foundation Medicine (NYSE:FMI) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.56) by $0.04. During the same period last year, the firm earned ($0.46) earnings per share. The business earned $25.40 million during the quarter, compared to the consensus estimate of $24.04 million. The business’s quarterly revenue was up 54.9% compared to the same quarter last year. Equities analysts forecast that Foundation Medicine will post ($2.43) EPS for the current fiscal year.
Several equities analysts have weighed in on the company. BTIG Research reissued a “neutral” rating on shares of Foundation Medicine in a research report on Tuesday, December 22nd. Wedbush dropped their price target on Foundation Medicine from $26.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, November 4th. JPMorgan Chase & Co. dropped their price target on Foundation Medicine from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, November 4th. Goldman Sachs decreased their price objective on Foundation Medicine from $29.00 to $25.00 in a report on Wednesday, November 4th. Finally, Leerink Swann decreased their price objective on Foundation Medicine from $36.00 to $27.00 and set a “market perform” rating on the stock in a report on Wednesday, November 4th.
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. Its platform includes methods and algorithms for analyzing specimens across various types of cancer and for incorporating that information. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies. Its clinical products, FoundationOne for solid tumors and FoundationOne Heme for blood-based cancers or hematologic malignancies, including leukemia, lymphoma, myeloma and various sarcomas and pediatric cancers, are available comprehensive genomic profiles designed for use in the routine care of patients with cancer. Its brands also include Once. And for All and The Molecular Information Company.