Zacks Investment Research Lowers Forward Pharma A/S (FWP) to Hold
Zacks Investment Research downgraded shares of Forward Pharma A/S (NASDAQ:FWP) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Forward Pharma A/S is a biotechnology company. It is focused on the immunomodulatory compound dimethyl fumarate and derivatives, for applications as a pharmaceutical drug product to treat immune disorders such as multiple sclerosis and psoriasis. The Company is advancing its lead drug candidate FP187 for possible treatment of immune disorders including multiple sclerosis and psoriasis. Forward Pharma A/S is headquartered in Copenhagen, Denmark. “
FWP has been the topic of a number of other reports. BidaskClub upgraded Forward Pharma A/S from a buy rating to a strong-buy rating in a research report on Wednesday, August 30th. ValuEngine cut Forward Pharma A/S from a hold rating to a sell rating in a research report on Tuesday, September 12th. Finally, Jefferies Group reiterated a hold rating and issued a $6.00 price target (up from $5.00) on shares of Forward Pharma A/S in a research report on Wednesday, September 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $17.00.
A number of large investors have recently made changes to their positions in FWP. Alliancebernstein L.P. bought a new stake in Forward Pharma A/S in the second quarter valued at $203,000. OxFORD Asset Management LLP bought a new stake in Forward Pharma A/S in the second quarter valued at $210,000. Cowen Inc. bought a new stake in Forward Pharma A/S in the second quarter valued at $225,000. Eqis Capital Management Inc. grew its position in Forward Pharma A/S by 280.9% in the third quarter. Eqis Capital Management Inc. now owns 76,867 shares of the biotechnology company’s stock valued at $467,000 after acquiring an additional 56,689 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Forward Pharma A/S in the second quarter valued at $866,000. Hedge funds and other institutional investors own 21.57% of the company’s stock.
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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