HC Wainwright Has Positive Outlook for FULC FY2024 Earnings

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) – Equities researchers at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Fulcrum Therapeutics in a report released on Thursday, November 14th. HC Wainwright analyst A. Fein now expects that the company will earn ($0.12) per share for the year, up from their prior estimate of ($0.15). HC Wainwright has a “Neutral” rating and a $4.00 price target on the stock. The consensus estimate for Fulcrum Therapeutics’ current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Fulcrum Therapeutics’ Q4 2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.81) EPS, FY2026 earnings at ($1.00) EPS, FY2027 earnings at ($0.99) EPS and FY2028 earnings at ($0.84) EPS.

A number of other analysts have also recently issued reports on the company. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $10.00 to $2.00 in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Leerink Partnrs downgraded Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 12th. Cantor Fitzgerald downgraded Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Fulcrum Therapeutics currently has an average rating of “Hold” and a consensus target price of $9.33.

Fulcrum Therapeutics Stock Performance

NASDAQ FULC opened at $3.01 on Monday. The business has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $6.40. Fulcrum Therapeutics has a 52-week low of $2.86 and a 52-week high of $13.70. The stock has a market cap of $162.36 million, a price-to-earnings ratio of -9.71 and a beta of 2.24.

Institutional Investors Weigh In On Fulcrum Therapeutics

Several large investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Fulcrum Therapeutics by 367.1% in the 3rd quarter. Barclays PLC now owns 124,141 shares of the company’s stock valued at $443,000 after buying an additional 97,565 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fulcrum Therapeutics by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,320,862 shares of the company’s stock valued at $4,716,000 after buying an additional 13,485 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Fulcrum Therapeutics in the 3rd quarter valued at approximately $254,000. State Street Corp lifted its holdings in Fulcrum Therapeutics by 61.4% during the 3rd quarter. State Street Corp now owns 1,680,229 shares of the company’s stock valued at $5,998,000 after purchasing an additional 638,955 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Fulcrum Therapeutics during the 3rd quarter valued at $721,000. 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.