Fulcrum Therapeutics’ (FULC) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a research note issued to investors on Monday, Marketbeat reports. They currently have a $12.00 target price on the stock.

A number of other equities analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised Fulcrum Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.20.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ:FULC opened at $9.04 on Monday. The stock has a fifty day moving average of $7.84 and a 200-day moving average of $6.67. The company has a market capitalization of $488.97 million, a PE ratio of -7.41 and a beta of 2.93. Fulcrum Therapeutics has a one year low of $2.32 and a one year high of $9.89.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its earnings results on Tuesday, July 29th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. As a group, research analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FULC. Adage Capital Partners GP L.L.C. lifted its stake in Fulcrum Therapeutics by 53.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock valued at $31,572,000 after purchasing an additional 1,589,000 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Fulcrum Therapeutics during the 2nd quarter worth about $9,207,000. Exome Asset Management LLC boosted its position in shares of Fulcrum Therapeutics by 143.0% during the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock worth $1,985,000 after purchasing an additional 405,538 shares in the last quarter. Invesco Ltd. boosted its position in shares of Fulcrum Therapeutics by 448.4% during the 2nd quarter. Invesco Ltd. now owns 470,333 shares of the company’s stock worth $3,236,000 after purchasing an additional 384,566 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Fulcrum Therapeutics by 865.0% in the 1st quarter. Acadian Asset Management LLC now owns 344,561 shares of the company’s stock valued at $989,000 after acquiring an additional 308,854 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Fulcrum Therapeutics Company Profile

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.