Forward Pharma A/S (FWP) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Forward Pharma A/S (NASDAQ:FWP) have received a consensus rating of “Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.00.

FWP has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Forward Pharma A/S from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. ValuEngine downgraded shares of Forward Pharma A/S from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 1st.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BVF Inc. IL grew its stake in Forward Pharma A/S by 137.4% during the fourth quarter. BVF Inc. IL now owns 3,455,117 shares of the biotechnology company’s stock worth $12,646,000 after buying an additional 2,000,000 shares during the period. Newtyn Management LLC purchased a new stake in Forward Pharma A/S during the third quarter worth approximately $1,584,000. Finally, Baupost Group LLC MA grew its stake in Forward Pharma A/S by 1.6% during the third quarter. Baupost Group LLC MA now owns 6,463,265 shares of the biotechnology company’s stock worth $39,232,000 after buying an additional 99,206 shares during the period. Institutional investors own 20.86% of the company’s stock.

Forward Pharma A/S stock opened at $2.17 on Monday. Forward Pharma A/S has a 1 year low of $2.02 and a 1 year high of $30.00.

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About Forward Pharma A/S

Forward Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in the development of FP187, a formulation of dimethyl fumarate (DMF) for the treatment of several inflammatory and neurological indications, including multiple sclerosis (MS). The Company’s clinical candidate, FP187, is under development for the treatment of relapsing remitting MS (RRMS) and other immune disorders, such as psoriasis.

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