Cowen Begins Coverage on Foundation Medicine (FMI)

Cowen initiated coverage on shares of Foundation Medicine (NASDAQ:FMI) in a report issued on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $90.00 target price on the stock.

A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Foundation Medicine from a buy rating to a hold rating in a report on Saturday, February 10th. Zacks Investment Research raised shares of Foundation Medicine from a sell rating to a hold rating in a report on Thursday, February 8th. Finally, Goldman Sachs Group started coverage on shares of Foundation Medicine in a report on Monday, January 29th. They issued a neutral rating and a $73.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $59.80.

Shares of Foundation Medicine (NASDAQ FMI) opened at $74.90 on Thursday. Foundation Medicine has a 1 year low of $22.40 and a 1 year high of $75.20. The firm has a market cap of $2,720.00, a price-to-earnings ratio of -16.76 and a beta of -0.03. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47.

In related news, Director Evan/ Fa Jones sold 6,500 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $60.66, for a total transaction of $394,290.00. Following the completion of the transaction, the director now directly owns 19,652 shares of the company’s stock, valued at $1,192,090.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven J. Kafka sold 29,791 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $61.55, for a total transaction of $1,833,636.05. The disclosure for this sale can be found here. Insiders sold 258,508 shares of company stock valued at $16,821,228 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC grew its position in Foundation Medicine by 146.0% during the second quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock worth $23,024,000 after buying an additional 343,770 shares during the period. Peregrine Capital Management LLC acquired a new position in Foundation Medicine during the third quarter worth about $13,299,000. State Street Corp grew its position in Foundation Medicine by 124.2% during the second quarter. State Street Corp now owns 526,775 shares of the company’s stock worth $20,947,000 after buying an additional 291,815 shares during the period. Boston Advisors LLC acquired a new position in Foundation Medicine during the fourth quarter worth about $13,000,000. Finally, Advisory Research Inc. grew its position in Foundation Medicine by 172.2% during the fourth quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock worth $5,223,000 after buying an additional 48,450 shares during the period. 33.12% of the stock is owned by hedge funds and other institutional investors.

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Foundation Medicine Company Profile

Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.

Analyst Recommendations for Foundation Medicine (NASDAQ:FMI)

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