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

HC Wainwright lowered shares of Fulcrum Therapeutics (NASDAQ:FULC) from a buy rating to a neutral rating in a research report sent to investors on Friday, MarketBeat Ratings reports. HC Wainwright currently has $4.00 target price on the stock, down from their prior target price of $17.00.

A number of other brokerages also recently weighed in on FULC. Bank of America downgraded Fulcrum Therapeutics from a neutral rating to an underperform rating and lowered their price target for the company from $10.00 to $2.00 in a report on Thursday. Leerink Partners reaffirmed a market perform rating and set a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday. Leerink Partnrs lowered shares of Fulcrum Therapeutics from a strong-buy rating to a hold rating in a research report on Thursday. Cantor Fitzgerald downgraded shares of Fulcrum Therapeutics from an overweight rating to a neutral rating in a research report on Thursday. Finally, Royal Bank of Canada downgraded shares of Fulcrum Therapeutics from an outperform rating to a sector perform rating and cut their target price for the stock from $15.00 to $4.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $9.33.

Fulcrum Therapeutics Stock Down 7.6 %

Shares of NASDAQ FULC opened at $3.18 on Friday. The stock’s fifty day simple moving average is $8.41 and its 200 day simple moving average is $8.29. The stock has a market capitalization of $197.65 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. Fulcrum Therapeutics has a 52-week low of $2.87 and a 52-week high of $13.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capstone Investment Advisors LLC acquired a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at about $68,000. Affinity Asset Advisors LLC acquired a new position in Fulcrum Therapeutics during the fourth quarter valued at approximately $844,000. Vestal Point Capital LP acquired a new stake in shares of Fulcrum Therapeutics in the fourth quarter worth $6,919,000. ADAR1 Capital Management LLC bought a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth $4,302,000. Finally, Opaleye Management Inc. acquired a new position in Fulcrum Therapeutics in the 4th quarter valued at $878,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Fulcrum Therapeutics Company Profile

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.