Truist Financial Initiates Coverage on Fusion Pharmaceuticals (NASDAQ:FUSN)

Equities researchers at Truist Financial initiated coverage on shares of Fusion Pharmaceuticals (NASDAQ:FUSNGet Rating) in a research note issued to investors on Thursday, September 15th, MarketBeat Ratings reports. The brokerage set a “buy” rating on the stock.

A number of other analysts have also commented on FUSN. Jonestrading assumed coverage on Fusion Pharmaceuticals in a report on Tuesday, September 6th. They set a “buy” rating for the company. William Blair assumed coverage on Fusion Pharmaceuticals in a research note on Wednesday, July 6th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.00.

Fusion Pharmaceuticals Price Performance

Shares of NASDAQ FUSN traded up $0.02 during mid-day trading on Thursday, hitting $3.00. 971 shares of the stock traded hands, compared to its average volume of 180,770. The company has a current ratio of 17.89, a quick ratio of 17.89 and a debt-to-equity ratio of 0.05. Fusion Pharmaceuticals has a twelve month low of $1.99 and a twelve month high of $8.81. The firm has a 50 day simple moving average of $2.43 and a two-hundred day simple moving average of $4.06.

Fusion Pharmaceuticals (NASDAQ:FUSNGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.09. The company had revenue of $0.57 million for the quarter, compared to the consensus estimate of $0.55 million. Fusion Pharmaceuticals had a negative return on equity of 33.91% and a negative net margin of 3,647.40%. Research analysts anticipate that Fusion Pharmaceuticals will post -1.9 EPS for the current fiscal year.

Insider Activity at Fusion Pharmaceuticals

In other news, Director Steven Gannon acquired 44,400 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $2.03 per share, for a total transaction of $90,132.00. Following the completion of the purchase, the director now owns 56,400 shares in the company, valued at $114,492. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fusion Pharmaceuticals

Several institutional investors have recently made changes to their positions in FUSN. Federated Hermes Inc. lifted its position in shares of Fusion Pharmaceuticals by 94.1% during the first quarter. Federated Hermes Inc. now owns 3,055,037 shares of the company’s stock worth $23,738,000 after acquiring an additional 1,481,037 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Fusion Pharmaceuticals by 22.3% during the fourth quarter. Point72 Asset Management L.P. now owns 1,048,956 shares of the company’s stock worth $4,374,000 after acquiring an additional 190,944 shares in the last quarter. UBS Group AG lifted its position in shares of Fusion Pharmaceuticals by 45,219.1% during the first quarter. UBS Group AG now owns 21,300 shares of the company’s stock worth $165,000 after acquiring an additional 21,253 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Fusion Pharmaceuticals in the second quarter worth $29,000. Hedge funds and other institutional investors own 64.21% of the company’s stock.

About Fusion Pharmaceuticals

(Get Rating)

Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines. The company has developed Targeted Alpha Therapies platform together with its proprietary Fast-Clear linker technology to enable us to connect alpha particle emitting isotopes to various targeting molecules in order to selectively deliver the alpha particle payloads to tumors.

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