Fulcrum Therapeutics (NASDAQ:FULC) Upgraded to "Neutral" by Bank of America

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) was upgraded by equities research analysts at Bank of America from an "underperform" rating to a "neutral" rating in a report issued on Monday, Marketbeat.com reports. The firm presently has a $10.00 price target on the stock, up from their previous price target of $5.00. Bank of America's target price would indicate a potential upside of 15.87% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. 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. Cantor Fitzgerald reissued an "overweight" rating and set a $23.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, July 10th. Oppenheimer reduced their price objective on Fulcrum Therapeutics from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 14th. Finally, The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $6.00 to $15.00 in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.43.

Fulcrum Therapeutics Stock Up 1.1 %

Shares of Fulcrum Therapeutics stock traded up $0.09 on Monday, hitting $8.63. The company's stock had a trading volume of 994,217 shares, compared to its average volume of 727,538. The company has a market capitalization of $536.39 million, a P/E ratio of -5.39 and a beta of 2.23. Fulcrum Therapeutics has a 52-week low of $3.14 and a 52-week high of $13.70. The firm has a fifty day moving average price of $8.42 and a 200-day moving average price of $8.37.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.93. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. The company had revenue of $80.00 million for the quarter, compared to the consensus estimate of $80.00 million. During the same quarter in the prior year, the firm earned ($0.38) earnings per share. As a group, analysts expect that Fulcrum Therapeutics will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. National Bank of Canada FI grew its position in shares of Fulcrum Therapeutics by 869.6% during the 2nd 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 during the last quarter. Capstone Investment Advisors LLC acquired a new position in Fulcrum Therapeutics in the fourth quarter valued at approximately $68,000. Profund Advisors LLC acquired a new position in Fulcrum Therapeutics in the second quarter valued at approximately $68,000. Renaissance Technologies LLC bought a new position in shares of Fulcrum Therapeutics during the second quarter valued at approximately $82,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Fulcrum Therapeutics by 66.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company's stock worth $112,000 after purchasing an additional 4,766 shares during the period. Institutional investors and hedge funds 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.