Foamix Pharmaceuticals (FOMX) Downgraded to Hold at Zacks Investment Research

Foamix Pharmaceuticals (NASDAQ:FOMX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Foamix Pharmaceuticals Ltd. is a specialty pharmaceutical company. It develops and commercializes foam-based formulations acne, impetigo, and other skin conditions. The Company’s lead product candidates include FMX101, which has completed a dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has completed a Phase II clinical trial for the treatment of impetigo. It has operations primarily in the United States, Germany, and Israel. Foamix Pharmaceuticals Ltd. is headquartered in Rehovot, Israel. “

FOMX has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective (up previously from $12.00) on shares of Foamix Pharmaceuticals in a research note on Wednesday, September 12th. ValuEngine downgraded Foamix Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st.

NASDAQ:FOMX traded down $0.07 during trading hours on Monday, reaching $4.98. The stock had a trading volume of 901,500 shares, compared to its average volume of 345,256. Foamix Pharmaceuticals has a 52 week low of $4.40 and a 52 week high of $7.60. The company has a market cap of $300.82 million, a price-to-earnings ratio of -2.83 and a beta of 1.92.

Foamix Pharmaceuticals (NASDAQ:FOMX) last released its quarterly earnings data on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.10. Foamix Pharmaceuticals had a negative return on equity of 131.84% and a negative net margin of 2,085.71%. The business had revenue of $0.96 million for the quarter, compared to the consensus estimate of $1.10 million. On average, equities research analysts expect that Foamix Pharmaceuticals will post -1.6 EPS for the current fiscal year.

In other Foamix Pharmaceuticals news, CEO David Domzalski sold 8,238 shares of Foamix Pharmaceuticals stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $5.68, for a total value of $46,791.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 11,763 shares of company stock worth $66,910. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC increased its position in shares of Foamix Pharmaceuticals by 223.2% during the 2nd quarter. Orbimed Advisors LLC now owns 4,040,000 shares of the specialty pharmaceutical company’s stock valued at $20,240,000 after purchasing an additional 2,790,000 shares during the last quarter. Senzar Asset Management LLC bought a new position in shares of Foamix Pharmaceuticals during the 2nd quarter valued at approximately $338,000. Citadel Advisors LLC increased its position in shares of Foamix Pharmaceuticals by 3,281.1% during the 2nd quarter. Citadel Advisors LLC now owns 501,621 shares of the specialty pharmaceutical company’s stock valued at $2,513,000 after purchasing an additional 486,785 shares during the last quarter. ARK Investment Management LLC increased its position in shares of Foamix Pharmaceuticals by 17.7% during the 2nd quarter. ARK Investment Management LLC now owns 106,243 shares of the specialty pharmaceutical company’s stock valued at $532,000 after purchasing an additional 15,980 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Foamix Pharmaceuticals by 7.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 390,000 shares of the specialty pharmaceutical company’s stock valued at $1,954,000 after purchasing an additional 25,500 shares during the last quarter. 58.40% of the stock is currently owned by hedge funds and other institutional investors.

Foamix Pharmaceuticals Company Profile

Foamix Pharmaceuticals Ltd., a clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations primarily for the treatment of moderate-to-severe acne, moderate-to-severe papulo-pustular rosacea, and other skin conditions in the United States and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline, which has completed a double-blind and dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has completed a Phase II clinical trial for the treatment of impetigo caused by staphylococcus aureus, including methicillin-resistant staphylococcus aureus.

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