Fulcrum Therapeutics (NASDAQ:FULC) Raised to “Neutral” at Bank of America

Bank of America upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from an underperform rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. They currently have $10.00 price objective on the stock, up from their prior price objective of $5.00.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a neutral rating to a buy rating and lifted their price target for the stock from $6.00 to $15.00 in a research note on Monday, May 13th. HC Wainwright restated a buy rating and issued a $17.00 price target on shares of Fulcrum Therapeutics in a research note on Thursday, August 1st. Cantor Fitzgerald restated an overweight rating and issued a $23.00 price target on shares of Fulcrum Therapeutics in a research note on Wednesday, July 10th. Finally, Oppenheimer dropped their price target on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an outperform rating for the company in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $10.78.

Fulcrum Therapeutics Trading Down 61.1 %

NASDAQ FULC opened at $3.44 on Monday. The company’s fifty day simple moving average is $8.47 and its 200-day simple moving average is $8.33. Fulcrum Therapeutics has a 52 week low of $2.87 and a 52 week high of $13.70. The stock has a market cap of $213.81 million, a P/E ratio of -2.15 and a beta of 2.23.

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

Institutional Trading of Fulcrum Therapeutics

Several institutional investors have recently added to or reduced their stakes in FULC. National Bank of Canada FI increased its stake in Fulcrum Therapeutics by 869.6% during the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Fulcrum Therapeutics during the fourth quarter worth about $68,000. Profund Advisors LLC bought a new position in shares of Fulcrum Therapeutics during the second quarter worth about $68,000. Renaissance Technologies LLC bought a new position in shares of Fulcrum Therapeutics during the second quarter worth about $82,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Fulcrum Therapeutics by 66.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock worth $112,000 after acquiring an additional 4,766 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

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.