Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Receives $9.33 Average Target Price from Brokerages

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

Several analysts have weighed in on the stock. Bank of America downgraded shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $10.00 to $2.00 in a research report on Thursday, September 12th. HC Wainwright reissued a “neutral” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Leerink Partnrs cut Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 12th. Leerink Partners reissued a “market perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, November 14th.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ FULC opened at $4.54 on Friday. Fulcrum Therapeutics has a fifty-two week low of $2.86 and a fifty-two week high of $13.70. The company has a market cap of $244.88 million, a PE ratio of -14.65 and a beta of 2.14. The business has a 50-day simple moving average of $3.54 and a two-hundred day simple moving average of $5.87.

Institutional Investors Weigh In On Fulcrum Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Fulcrum Therapeutics by 113.8% during the second quarter. SG Americas Securities LLC now owns 26,093 shares of the company’s stock worth $162,000 after buying an additional 13,887 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at about $3,084,000. Bank of New York Mellon Corp acquired a new position in Fulcrum Therapeutics in the 2nd quarter worth about $1,158,000. Rhumbline Advisers boosted its position in Fulcrum Therapeutics by 5,417.9% during the second quarter. Rhumbline Advisers now owns 91,432 shares of the company’s stock worth $567,000 after purchasing an additional 89,775 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Fulcrum Therapeutics by 869.6% in the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after buying an additional 4,000 shares in the last quarter. 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.