Fulcrum Therapeutics (NASDAQ:FULC) Rating Increased to Outperform at Leerink Partners

Leerink Partners upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from a market perform rating to an outperform rating in a report published on Friday morning, Marketbeat.com reports. Leerink Partners currently has $12.00 target price on the stock, up from their prior target price of $4.00.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald raised shares of Fulcrum Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 price objective on the stock in a research report on Thursday, May 15th. HC Wainwright reissued a “neutral” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.83.

Fulcrum Therapeutics Trading Up 5.2%

Shares of Fulcrum Therapeutics stock opened at $6.44 on Friday. The business has a 50-day moving average price of $4.03 and a two-hundred day moving average price of $3.91. Fulcrum Therapeutics has a 1-year low of $2.32 and a 1-year high of $10.13. The company has a market cap of $347.62 million, a P/E ratio of -20.77 and a beta of 2.29.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. Equities research analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Large investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its position in Fulcrum Therapeutics by 145.8% in the 4th quarter. MetLife Investment Management LLC now owns 40,107 shares of the company’s stock valued at $189,000 after acquiring an additional 23,792 shares in the last quarter. American Century Companies Inc. lifted its position in Fulcrum Therapeutics by 5.9% in the 4th quarter. American Century Companies Inc. now owns 120,611 shares of the company’s stock valued at $567,000 after acquiring an additional 6,770 shares in the last quarter. Wells Fargo & Company MN lifted its position in Fulcrum Therapeutics by 34.4% in the 4th quarter. Wells Fargo & Company MN now owns 34,264 shares of the company’s stock valued at $161,000 after acquiring an additional 8,761 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fulcrum Therapeutics by 46.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,368 shares of the company’s stock valued at $247,000 after acquiring an additional 16,656 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Fulcrum Therapeutics by 176.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company’s stock valued at $1,728,000 after acquiring an additional 234,810 shares in the last quarter. Institutional investors 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.