Foamix Pharmaceuticals (FOMX) Sees Strong Trading Volume

Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) saw an uptick in trading volume on Monday . 1,862,940 shares were traded during mid-day trading, an increase of 715% from the previous session’s volume of 228,559 shares.The stock last traded at $3.55 and had previously closed at $3.53.

A number of research firms have issued reports on FOMX. HC Wainwright set a $12.00 price objective on shares of Foamix Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, January 4th. Bank of America began coverage on shares of Foamix Pharmaceuticals in a research report on Wednesday, December 12th. They issued a “buy” rating and a $11.00 price objective on the stock. Cowen set a $30.00 price objective on shares of Foamix Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, BidaskClub cut shares of Foamix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Foamix Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $14.69.

The stock has a market cap of $191.61 million, a PE ratio of -2.02 and a beta of 1.73.

In related news, Director Aharon Schwartz purchased 50,000 shares of Foamix Pharmaceuticals stock in a transaction that occurred on Monday, November 26th. The shares were bought at an average price of $3.89 per share, for a total transaction of $194,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $194,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 8,479 shares of company stock worth $33,078 in the last quarter. 3.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC increased its position in shares of Foamix Pharmaceuticals by 178.1% during the third quarter. Perceptive Advisors LLC now owns 3,107,424 shares of the specialty pharmaceutical company’s stock valued at $17,806,000 after buying an additional 1,990,100 shares during the period. Franklin Resources Inc. grew its holdings in Foamix Pharmaceuticals by 55.2% in the third quarter. Franklin Resources Inc. now owns 2,321,745 shares of the specialty pharmaceutical company’s stock worth $13,304,000 after purchasing an additional 826,200 shares during the period. AXA grew its holdings in Foamix Pharmaceuticals by 43.8% in the third quarter. AXA now owns 1,369,341 shares of the specialty pharmaceutical company’s stock worth $7,846,000 after purchasing an additional 416,787 shares during the period. Point72 Asset Management L.P. purchased a new stake in Foamix Pharmaceuticals in the third quarter worth about $6,616,000. Finally, Sio Capital Management LLC purchased a new stake in Foamix Pharmaceuticals in the third quarter worth about $4,412,000. Institutional investors own 62.68% of the company’s stock.

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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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