Foundation Medicine (NASDAQ:FMI) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Zacks Investment Research upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Foundation Medicine currently has an average rating of “Buy” and an average target price of $45.33.

Shares of Foundation Medicine (NASDAQ:FMI) traded down $0.70 during midday trading on Tuesday, reaching $61.75. 200,600 shares of the company were exchanged, compared to its average volume of 233,945. Foundation Medicine has a 52 week low of $17.10 and a 52 week high of $70.75. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47.

Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. Foundation Medicine had a negative net margin of 119.69% and a negative return on equity of 143.18%. The company had revenue of $42.66 million during the quarter, compared to analyst estimates of $37.99 million. During the same period in the previous year, the business earned ($0.90) EPS. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. sell-side analysts expect that Foundation Medicine will post -4.44 earnings per share for the current fiscal year.

In other Foundation Medicine news, CFO Jason Ryan sold 3,154 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.80, for a total transaction of $122,375.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven J. Kafka sold 3,201 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.80, for a total transaction of $124,198.80. The disclosure for this sale can be found here. Insiders sold a total of 84,057 shares of company stock valued at $4,588,768 in the last ninety days. 2.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Foundation Medicine by 8.2% during the 2nd quarter. Vanguard Group Inc. now owns 631,339 shares of the company’s stock valued at $25,096,000 after buying an additional 47,843 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Foundation Medicine during the 3rd quarter valued at about $13,299,000. TIAA CREF Investment Management LLC raised its position in shares of Foundation Medicine by 9.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 39,000 shares of the company’s stock valued at $1,550,000 after buying an additional 3,490 shares in the last quarter. Northern Trust Corp raised its position in shares of Foundation Medicine by 7.4% during the 2nd quarter. Northern Trust Corp now owns 187,714 shares of the company’s stock valued at $7,462,000 after buying an additional 12,881 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. purchased a new stake in shares of Foundation Medicine during the 2nd quarter valued at about $1,093,000. 33.44% of the stock is owned by institutional investors and hedge funds.

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About Foundation Medicine

Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.

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