Fulgent Genetics (NASDAQ:FLGT) PT Lowered to $35.00

Fulgent Genetics (NASDAQ:FLGT – Get Rating) had its price objective cut by investment analysts at Piper Sandler from $40.00 to $35.00 in a research note issued on Monday, The Fly reports. Piper Sandler’s price target indicates a potential upside of 9.99% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Raymond James assumed coverage on shares of Fulgent Genetics in a research report on Friday, November 18th. They issued an “outperform” rating and a $45.00 target price for the company. Credit Suisse Group cut their target price on shares of Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Fulgent Genetics Stock Down 1.2 %

Shares of FLGT opened at $31.82 on Monday. The company has a market capitalization of $939.33 million, a P/E ratio of 6.98 and a beta of 1.61. The firm has a 50 day moving average of $32.58 and a 200 day moving average of $35.51. Fulgent Genetics has a twelve month low of $28.53 and a twelve month high of $65.32.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.07. The company had revenue of $67.70 million during the quarter, compared to the consensus estimate of $59.44 million. Fulgent Genetics had a net margin of 23.17% and a return on equity of 11.93%. On average, sell-side analysts expect that Fulgent Genetics will post -2.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Covington Capital Management boosted its stake in shares of Fulgent Genetics by 133.3% during the 3rd quarter. Covington Capital Management now owns 700 shares of the company’s stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Fulgent Genetics by 416.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock worth $30,000 after acquiring an additional 396 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in shares of Fulgent Genetics by 1,114.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 607 shares of the company’s stock worth $33,000 after acquiring an additional 557 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Fulgent Genetics during the 4th quarter worth $46,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Fulgent Genetics by 829.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,775 shares of the company’s stock worth $53,000 after acquiring an additional 1,584 shares during the last quarter. Hedge funds and other institutional investors own 43.22% of the company’s stock.

About Fulgent Genetics

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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.