Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Expected to Earn Q2 2024 Earnings of ($0.43) Per Share

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) – Equities researchers at HC Wainwright reduced their Q2 2024 earnings estimates for Fulcrum Therapeutics in a research report issued on Tuesday, May 14th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($0.43) per share for the quarter, down from their prior estimate of ($0.40). HC Wainwright has a “Buy” rating and a $17.00 price objective on the stock. The consensus estimate for Fulcrum Therapeutics’ current full-year earnings is ($1.76) per share. HC Wainwright also issued estimates for Fulcrum Therapeutics’ Q3 2024 earnings at ($0.43) EPS, Q4 2024 earnings at ($0.44) EPS, FY2024 earnings at ($1.73) EPS, FY2025 earnings at ($1.27) EPS, FY2026 earnings at ($0.74) EPS and FY2027 earnings at $0.05 EPS.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.04. The business had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $0.65 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 38.94%.

FULC has been the topic of several other reports. The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $15.00 in a report on Monday. Oppenheimer reduced their price target on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank of Canada started coverage on shares of Fulcrum Therapeutics in a research note on Wednesday, March 13th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.33.

Fulcrum Therapeutics Trading Up 4.3 %

FULC opened at $8.25 on Thursday. The firm has a market capitalization of $512.74 million, a PE ratio of -5.16 and a beta of 2.35. Fulcrum Therapeutics has a twelve month low of $2.65 and a twelve month high of $13.70. The firm’s 50-day moving average price is $8.61 and its 200 day moving average price is $7.33.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FULC. FMR LLC increased its position in shares of Fulcrum Therapeutics by 7.6% in the 3rd quarter. FMR LLC now owns 5,975,416 shares of the company’s stock worth $26,531,000 after purchasing an additional 421,676 shares during the last quarter. Cowen AND Company LLC increased its position in shares of Fulcrum Therapeutics by 38.2% in the 3rd quarter. Cowen AND Company LLC now owns 4,308,359 shares of the company’s stock worth $19,129,000 after purchasing an additional 1,191,363 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fulcrum Therapeutics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company’s stock worth $23,965,000 after purchasing an additional 18,681 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Fulcrum Therapeutics by 4.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,406,422 shares of the company’s stock worth $10,685,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Fulcrum Therapeutics in the 4th quarter worth about $6,919,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Insiders Place Their Bets

In other Fulcrum Therapeutics news, VP Greg Tourangeau sold 4,884 shares of Fulcrum Therapeutics stock in a transaction on Friday, March 8th. The shares were sold at an average price of $11.72, for a total value of $57,240.48. Following the transaction, the vice president now owns 11,807 shares in the company, valued at approximately $138,378.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by corporate insiders.

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.