Analysts Set Foundation Medicine Inc (FMI) Target Price at $70.50

Foundation Medicine Inc (NASDAQ:FMI) has received a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $70.50.

FMI has been the subject of several research reports. Wells Fargo reaffirmed a “market perform” rating and issued a $80.00 price target (up previously from $67.00) on shares of Foundation Medicine in a research report on Thursday, March 8th. BidaskClub raised shares of Foundation Medicine from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Goldman Sachs initiated coverage on shares of Foundation Medicine in a research report on Monday, January 29th. They issued a “neutral” rating and a $73.00 price target for the company. Zacks Investment Research cut shares of Foundation Medicine from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Cowen initiated coverage on shares of Foundation Medicine in a research report on Thursday, February 15th. They issued an “outperform” rating and a $90.00 price target for the company.

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In related news, CFO Jason Ryan sold 2,336 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.00, for a total transaction of $149,504.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert W. Hesslein sold 1,864 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.00, for a total transaction of $119,296.00. The disclosure for this sale can be found here. Insiders sold a total of 294,952 shares of company stock valued at $20,147,318 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in Foundation Medicine by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 11,747 shares of the company’s stock valued at $467,000 after acquiring an additional 341 shares during the last quarter. Whittier Trust Co. lifted its position in Foundation Medicine by 1.6% during the fourth quarter. Whittier Trust Co. now owns 44,685 shares of the company’s stock valued at $3,048,000 after acquiring an additional 725 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Foundation Medicine by 8.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,378 shares of the company’s stock valued at $708,000 after acquiring an additional 800 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Foundation Medicine by 2.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 38,196 shares of the company’s stock valued at $2,605,000 after acquiring an additional 1,019 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Foundation Medicine by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 66,658 shares of the company’s stock valued at $4,546,000 after acquiring an additional 1,081 shares during the last quarter. 31.17% of the stock is owned by institutional investors.

FMI stock traded down $1.15 during mid-day trading on Monday, reaching $78.75. The company had a trading volume of 348,678 shares, compared to its average volume of 401,564. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.86 and a quick ratio of 1.67. The company has a market capitalization of $2,904.46, a P/E ratio of -17.50 and a beta of -0.21. Foundation Medicine has a 12 month low of $29.90 and a 12 month high of $87.10.

Foundation Medicine (NASDAQ:FMI) last issued its earnings results on Wednesday, March 7th. The company reported ($1.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.08). The company had revenue of $48.90 million during the quarter, compared to the consensus estimate of $48.69 million. Foundation Medicine had a negative return on equity of 207.73% and a negative net margin of 105.60%. Foundation Medicine’s revenue was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.02) earnings per share. research analysts expect that Foundation Medicine will post -4.22 EPS for the current fiscal year.

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About Foundation Medicine

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. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.

Analyst Recommendations for Foundation Medicine (NASDAQ:FMI)

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