Fulcrum Therapeutics (NASDAQ:FULC) Rating Increased to Neutral at Bank of America

Fulcrum Therapeutics (NASDAQ:FULC) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage currently has a $10.00 price target on the stock, up from their prior price target of $5.00. Bank of America‘s target price would suggest a potential upside of 18.62% from the company’s current price.

Several other analysts have also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of Fulcrum Therapeutics in a research note on Wednesday, July 10th. Oppenheimer dropped their price objective on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Finally, The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $6.00 to $15.00 in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.43.

Fulcrum Therapeutics Stock Down 2.3 %

FULC opened at $8.43 on Monday. Fulcrum Therapeutics has a twelve month low of $3.14 and a twelve month high of $13.70. The company has a 50-day moving average price of $8.47 and a 200 day moving average price of $8.36. The company has a market cap of $523.96 million, a PE ratio of -5.27 and a beta of 2.23.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.93. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. The company had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $80.00 million. During the same quarter in the prior year, the company earned ($0.38) EPS. As a group, sell-side analysts expect that Fulcrum Therapeutics will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several large investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its holdings in shares of Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Fulcrum Therapeutics in the 4th quarter worth approximately $68,000. Profund Advisors LLC acquired a new position in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $68,000. Renaissance Technologies LLC acquired a new position in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $82,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Fulcrum Therapeutics by 66.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock worth $112,000 after acquiring an additional 4,766 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.