Foamix Pharmaceuticals (FOMX) Trading Up 7.3% Following Insider Buying Activity

Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) was up 7.3% on Thursday following insider buying activity. The company traded as high as $4.38 and last traded at $4.29. Approximately 566,239 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 390,844 shares. The stock had previously closed at $4.00.

Specifically, Director Aharon Schwartz acquired 12,200 shares of Foamix Pharmaceuticals stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average cost of $3.88 per share, with a total value of $47,336.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at approximately $194,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 11,967 shares of company stock valued at $49,967. 3.30% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on FOMX shares. Zacks Investment Research raised Foamix Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Wednesday, September 19th. HC Wainwright set a $11.00 price objective on Foamix Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, September 18th. Cowen set a $30.00 price objective on Foamix Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, November 7th. ValuEngine cut Foamix Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Finally, BidaskClub raised Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $13.94.

The stock has a market capitalization of $217.13 million, a price-to-earnings ratio of -2.44 and a beta of 2.07.

Foamix Pharmaceuticals (NASDAQ:FOMX) last released its quarterly earnings results on Wednesday, November 7th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.07). The company had revenue of $0.87 million for the quarter, compared to analysts’ expectations of $1.10 million. Foamix Pharmaceuticals had a negative return on equity of 118.29% and a negative net margin of 2,049.92%. On average, equities analysts predict that Foamix Pharmaceuticals Ltd will post -1.65 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in FOMX. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Foamix Pharmaceuticals during the third quarter worth $166,000. Credit Suisse AG purchased a new position in Foamix Pharmaceuticals during the third quarter worth $194,000. Trexquant Investment LP increased its position in Foamix Pharmaceuticals by 205.6% during the third quarter. Trexquant Investment LP now owns 34,950 shares of the specialty pharmaceutical company’s stock worth $200,000 after buying an additional 23,515 shares in the last quarter. Fernwood Investment Management LLC purchased a new position in Foamix Pharmaceuticals during the third quarter worth $309,000. Finally, Senzar Asset Management LLC purchased a new position in Foamix Pharmaceuticals during the second quarter worth $338,000. 62.84% of the stock is owned by institutional investors.

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About Foamix Pharmaceuticals (NASDAQ:FOMX)

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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