Fulcrum Therapeutics (NASDAQ:FULC) Downgraded by HC Wainwright to “Neutral”

HC Wainwright cut shares of Fulcrum Therapeutics (NASDAQ:FULC) from a buy rating to a neutral rating in a report issued on Friday morning, MarketBeat.com reports. The brokerage currently has $4.00 target price on the stock, down from their prior target price of $17.00.

Several other research analysts also recently commented on the company. Bank of America downgraded Fulcrum Therapeutics from a neutral rating to an underperform rating and reduced their target price for the stock from $10.00 to $2.00 in a research note on Thursday, September 12th. Leerink Partnrs cut Fulcrum Therapeutics from a strong-buy rating to a hold rating in a report on Thursday, September 12th. Royal Bank of Canada cut Fulcrum Therapeutics from an outperform rating to a sector perform rating and dropped their price target for the stock from $15.00 to $4.00 in a report on Thursday, September 12th. Stifel Nicolaus cut Fulcrum Therapeutics from a buy rating to a hold rating and dropped their price target for the stock from $22.00 to $3.00 in a report on Thursday, September 12th. Finally, Cantor Fitzgerald cut Fulcrum Therapeutics from an overweight rating to a neutral rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $9.33.

Fulcrum Therapeutics Price Performance

FULC stock opened at $3.18 on Friday. The business has a 50 day moving average price of $8.35 and a two-hundred day moving average price of $8.21. The company has a market cap of $197.65 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. Fulcrum Therapeutics has a twelve month low of $2.87 and a twelve month high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.93. The firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $80.00 million. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. During the same period last year, the company earned ($0.38) earnings per share. On average, equities research analysts anticipate that Fulcrum Therapeutics will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI increased its stake 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 valued at $28,000 after purchasing an additional 4,000 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Fulcrum Therapeutics in the 4th quarter valued at $68,000. Profund Advisors LLC bought a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at $68,000. Renaissance Technologies LLC bought a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at $82,000. Finally, China Universal Asset Management Co. Ltd. increased its stake 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 valued at $112,000 after purchasing an additional 4,766 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

About Fulcrum Therapeutics

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.