Foamix Pharmaceuticals (NASDAQ:FOMX) Trading Up 16.3%

Foamix Pharmaceuticals Ltd (NASDAQ:FOMX)’s stock price was up 16.3% on Friday . The stock traded as high as $2.85 and last traded at $2.78, approximately 2,261,233 shares were traded during trading. An increase of 472% from the average daily volume of 395,650 shares. The stock had previously closed at $2.39.

Several research analysts have weighed in on FOMX shares. Zacks Investment Research raised Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Barclays started coverage on Foamix Pharmaceuticals in a research report on Tuesday, June 11th. They set an “overweight” rating and a $10.00 price target on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price target on shares of Foamix Pharmaceuticals in a research report on Tuesday, May 7th. ValuEngine raised Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright set a $12.00 price target on Foamix Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Foamix Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $13.96.

The firm has a market capitalization of $151.30 million, a price-to-earnings ratio of -1.64 and a beta of 1.62. The company has a fifty day moving average of $2.35.

Foamix Pharmaceuticals (NASDAQ:FOMX) last posted its earnings results on Wednesday, August 7th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). Foamix Pharmaceuticals had a negative return on equity of 79.46% and a negative net margin of 2,115.11%. As a group, analysts anticipate that Foamix Pharmaceuticals Ltd will post -1.61 earnings per share for the current fiscal year.

In related news, Director Anna Kazanchyan sold 10,600 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $2.61, for a total transaction of $27,666.00. Following the transaction, the director now directly owns 55,955 shares of the company’s stock, valued at approximately $146,042.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 16,353 shares of company stock worth $41,153 over the last three months. 2.95% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its holdings in shares of Foamix Pharmaceuticals by 6.3% during the 1st quarter. Handelsbanken Fonder AB now owns 680,000 shares of the specialty pharmaceutical company’s stock worth $2,550,000 after acquiring an additional 40,000 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Foamix Pharmaceuticals by 29.7% during the 4th quarter. BlackRock Inc. now owns 620,816 shares of the specialty pharmaceutical company’s stock worth $2,229,000 after acquiring an additional 142,159 shares during the last quarter. Knott David M increased its holdings in shares of Foamix Pharmaceuticals by 68.0% during the 1st quarter. Knott David M now owns 346,346 shares of the specialty pharmaceutical company’s stock worth $1,299,000 after acquiring an additional 140,146 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Foamix Pharmaceuticals by 25.0% during the 2nd quarter. ARK Investment Management LLC now owns 146,745 shares of the specialty pharmaceutical company’s stock worth $349,000 after acquiring an additional 29,378 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Foamix Pharmaceuticals by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,536 shares of the specialty pharmaceutical company’s stock worth $270,000 after acquiring an additional 22,027 shares during the last quarter. 55.13% of the stock is currently owned by institutional investors and hedge funds.

About Foamix Pharmaceuticals (NASDAQ:FOMX)

Foamix Pharmaceuticals Ltd., a late clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations for dermatological therapy in the United States, France, Denmark, and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline that has completed third pivotal Phase III clinical trial for the treatment of moderate-to-severe acne; and FMX103, which is in Phase III clinical trial for the treatment of moderate-to-severe papulopustular rosacea.

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