Shares of Fulgent Genetic (NASDAQ:FLGT) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Fulgent Genetic’s rating score has declined by 33.3% in the last three months as a result of a number of analysts’ ratings changes.
Brokers have set a one year consensus price target of $7.00 for the company, according to Zacks. Zacks has also given Fulgent Genetic an industry rank of 217 out of 265 based on the ratings given to related companies.
FLGT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Piper Jaffray Companies restated a “buy” rating on shares of Fulgent Genetic in a report on Tuesday, October 24th. Credit Suisse Group lowered their price target on shares of Fulgent Genetic from $10.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday, November 7th. Raymond James Financial lowered shares of Fulgent Genetic from an “outperform” rating to a “mkt perform” rating in a report on Tuesday, November 7th. Finally, ValuEngine upgraded shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a report on Monday, October 2nd.
A number of hedge funds and other institutional investors have recently bought and sold shares of FLGT. Bank of New York Mellon Corp acquired a new stake in Fulgent Genetic in the 1st quarter valued at $122,000. Granahan Investment Management Inc. MA grew its position in Fulgent Genetic by 145.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 238,232 shares of the company’s stock valued at $1,141,000 after purchasing an additional 141,182 shares during the period. Finally, William Blair Investment Management LLC grew its position in Fulgent Genetic by 10.4% in the 2nd quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock valued at $4,091,000 after purchasing an additional 60,508 shares during the period. 13.42% of the stock is owned by institutional investors and hedge funds.
Shares of Fulgent Genetic (NASDAQ FLGT) traded down $0.08 during midday trading on Friday, reaching $3.67. 23,030 shares of the company were exchanged, compared to its average volume of 46,263. The company has a market cap of $66.84, a price-to-earnings ratio of 187.50 and a beta of 1.27. Fulgent Genetic has a 1-year low of $2.72 and a 1-year high of $13.90.
About Fulgent Genetic
Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.
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