Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Receives $9.33 Average PT from Analysts

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) has received an average recommendation of “Hold” from the ten research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.33.

A number of equities analysts have recently commented on FULC shares. Leerink Partners reissued a “market perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Leerink Partnrs downgraded Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Cantor Fitzgerald cut shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Bank of America lowered shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $10.00 to $2.00 in a report on Thursday, September 12th. Finally, Royal Bank of Canada downgraded shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $15.00 to $4.00 in a research note on Thursday, September 12th.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ:FULC opened at $3.24 on Friday. The firm has a 50 day moving average of $5.04 and a 200-day moving average of $6.80. Fulcrum Therapeutics has a 12 month low of $2.87 and a 12 month high of $13.70. The stock has a market capitalization of $202.18 million, a PE ratio of -2.03 and a beta of 2.21.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.93. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $80.00 million. During the same quarter in the prior year, the firm earned ($0.38) earnings per share. On average, research analysts predict that Fulcrum Therapeutics will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in shares of Fulcrum Therapeutics by 869.6% during the second 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. China Universal Asset Management Co. Ltd. grew its holdings in Fulcrum Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock worth $43,000 after purchasing an additional 4,701 shares during the period. Profund Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics in the 2nd quarter valued at about $68,000. Renaissance Technologies LLC bought a new stake in Fulcrum Therapeutics in the 2nd quarter valued at about $82,000. Finally, SG Americas Securities LLC acquired a new position in Fulcrum Therapeutics during the 1st quarter worth approximately $115,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.