Fulcrum Therapeutics (NASDAQ:FULC) Lowered to “Hold” at Leerink Partnrs

Leerink Partnrs downgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from a strong-buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald downgraded Fulcrum Therapeutics from an overweight rating to a neutral rating in a research report on Thursday. Royal Bank of Canada downgraded 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 note on Thursday. Stifel Nicolaus cut Fulcrum Therapeutics from a buy rating to a hold rating and decreased their price target for the company from $22.00 to $3.00 in a research report on Thursday. HC Wainwright reissued a buy rating and issued a $17.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. Finally, Bank of America cut shares of Fulcrum Therapeutics from a neutral rating to an underperform rating and reduced their price objective for the company from $10.00 to $2.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Fulcrum Therapeutics currently has an average rating of Hold and an average price target of $10.78.

Fulcrum Therapeutics Trading Down 61.1 %

Fulcrum Therapeutics stock opened at $3.44 on Thursday. The business’s 50 day simple moving average is $8.47 and its 200 day simple moving average is $8.33. Fulcrum Therapeutics has a 12 month low of $2.87 and a 12 month high of $13.70. The company has a market cap of $214.66 million, a price-to-earnings ratio of -2.15 and a beta of 2.23.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $80.00 million. During the same quarter in the prior year, the company earned ($0.38) EPS. As a group, equities research analysts forecast that Fulcrum Therapeutics will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fulcrum Therapeutics

Hedge funds have recently bought and sold shares of the stock. Capstone Investment Advisors LLC purchased a new stake in Fulcrum Therapeutics during the fourth quarter valued at about $68,000. Affinity Asset Advisors LLC bought a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at about $844,000. Vestal Point Capital LP purchased a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at about $6,919,000. ADAR1 Capital Management LLC bought a new stake in Fulcrum Therapeutics in the 4th quarter worth approximately $4,302,000. Finally, Opaleye Management Inc. purchased a new stake in Fulcrum Therapeutics in the fourth quarter worth approximately $878,000. 89.83% of the stock is currently owned by institutional investors.

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.