Foamix Pharmaceuticals (FOMX) Sees Strong Trading Volume

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Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) saw strong trading volume on Monday . 1,862,940 shares were traded during mid-day trading, an increase of 715% from the previous session’s volume of 228,559 shares.The stock last traded at $3.55 and had previously closed at $3.53.

A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Cowen set a $30.00 price objective on shares of Foamix Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, November 7th. HC Wainwright set a $12.00 price objective on shares of Foamix Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 4th. Finally, Bank of America assumed coverage on shares of Foamix Pharmaceuticals in a research note on Wednesday, December 12th. They issued a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Foamix Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $14.69.

The firm has a market cap of $191.61 million, a P/E ratio of -2.02 and a beta of 1.73.

In other news, Director Aharon Schwartz purchased 50,000 shares of the business’s stock in a transaction on Monday, November 26th. The stock was purchased at an average cost of $3.89 per share, with a total value of $194,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $194,500. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 8,479 shares of company stock valued at $33,078. Insiders own 3.30% of the company’s stock.

A number of large investors have recently made changes to their positions in FOMX. Connor Clark & Lunn Investment Management Ltd. bought a new position in Foamix Pharmaceuticals in the 3rd quarter valued at $166,000. Credit Suisse AG bought a new position in Foamix Pharmaceuticals in the 3rd quarter valued at $194,000. Trexquant Investment LP boosted its holdings in Foamix Pharmaceuticals by 205.6% in the 3rd quarter. Trexquant Investment LP now owns 34,950 shares of the specialty pharmaceutical company’s stock valued at $200,000 after purchasing an additional 23,515 shares during the period. Federated Investors Inc. PA bought a new position in Foamix Pharmaceuticals in the 3rd quarter valued at $287,000. Finally, ETF Managers Group LLC lifted its holdings in shares of Foamix Pharmaceuticals by 66.6% during the 4th quarter. ETF Managers Group LLC now owns 81,972 shares of the specialty pharmaceutical company’s stock worth $294,000 after acquiring an additional 32,773 shares during the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

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About Foamix Pharmaceuticals (NASDAQ:FOMX)

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.

Further Reading: How to execute a trade ex-dividend strategy?

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