Foamix Pharmaceuticals (NASDAQ:FOMX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Wednesday, September 12th, Marketbeat Ratings reports. They presently have a $14.00 price target on the specialty pharmaceutical company’s stock, up from their previous price target of $12.00. HC Wainwright’s target price points to a potential upside of 177.23% from the stock’s current price.
A number of other brokerages have also commented on FOMX. Zacks Investment Research raised Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine raised Foamix Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 13th.
FOMX stock traded down $0.16 on Wednesday, reaching $5.05. The company’s stock had a trading volume of 1,019,189 shares, compared to its average volume of 342,337. Foamix Pharmaceuticals has a 12-month low of $4.40 and a 12-month high of $7.60. The firm has a market capitalization of $300.82 million, a price-to-earnings ratio of -2.87 and a beta of 1.92.
Foamix Pharmaceuticals (NASDAQ:FOMX) last announced its quarterly earnings results on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.10. Foamix Pharmaceuticals had a negative return on equity of 131.84% and a negative net margin of 2,085.71%. The company had revenue of $0.96 million during the quarter, compared to analyst estimates of $1.10 million. As a group, research analysts predict that Foamix Pharmaceuticals will post -1.6 EPS for the current year.
In other news, CEO David Domzalski sold 8,238 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $5.68, for a total transaction of $46,791.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 11,763 shares of company stock valued at $66,910 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. ARK Investment Management LLC increased its holdings in shares of Foamix Pharmaceuticals by 17.7% during the second quarter. ARK Investment Management LLC now owns 106,243 shares of the specialty pharmaceutical company’s stock valued at $532,000 after acquiring an additional 15,980 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Foamix Pharmaceuticals by 2.6% during the first quarter. Millennium Management LLC now owns 763,296 shares of the specialty pharmaceutical company’s stock valued at $3,916,000 after acquiring an additional 19,628 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Foamix Pharmaceuticals during the first quarter valued at $104,000. Handelsbanken Fonder AB increased its holdings in shares of Foamix Pharmaceuticals by 7.0% during the second quarter. Handelsbanken Fonder AB now owns 390,000 shares of the specialty pharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 25,500 shares in the last quarter. Finally, Senzar Asset Management LLC bought a new position in shares of Foamix Pharmaceuticals during the second quarter valued at $338,000. Hedge funds and other institutional investors own 58.40% of the company’s stock.
Foamix Pharmaceuticals Company Profile
Foamix Pharmaceuticals Ltd., a clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations primarily for the treatment of moderate-to-severe acne, moderate-to-severe papulo-pustular rosacea, and other skin conditions in the United States and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline, which has completed a double-blind and dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has completed a Phase II clinical trial for the treatment of impetigo caused by staphylococcus aureus, including methicillin-resistant staphylococcus aureus.
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