Forward Pharma A/S (FWP) Reaches New 12-Month Low at $3.00

Shares of Forward Pharma A/S (NASDAQ:FWP) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.00 and last traded at $3.00, with a volume of 38966 shares trading hands. The stock had previously closed at $3.17.

FWP has been the subject of several analyst reports. BidaskClub upgraded shares of Forward Pharma A/S from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. ValuEngine raised shares of Forward Pharma A/S from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research downgraded shares of Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Forward Pharma A/S has an average rating of “Buy” and a consensus price target of $17.00.

The firm has a market cap of $142.02, a P/E ratio of 0.80 and a beta of 1.12.

Large investors have recently modified their holdings of the company. Alliancebernstein L.P. bought a new position in shares of Forward Pharma A/S during the second quarter valued at about $203,000. OxFORD Asset Management LLP bought a new position in shares of Forward Pharma A/S during the second quarter valued at about $210,000. Eqis Capital Management Inc. raised its stake in shares of Forward Pharma A/S by 280.9% during the third quarter. Eqis Capital Management Inc. now owns 76,867 shares of the biotechnology company’s stock valued at $467,000 after acquiring an additional 56,689 shares during the last quarter. Newtyn Management LLC bought a new position in shares of Forward Pharma A/S during the third quarter valued at about $1,584,000. Finally, Baupost Group LLC MA raised its stake in shares of Forward Pharma A/S by 1.6% during the third quarter. Baupost Group LLC MA now owns 6,463,265 shares of the biotechnology company’s stock valued at $39,232,000 after acquiring an additional 99,206 shares during the last quarter. 21.41% of the stock is owned by hedge funds and other institutional investors.

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About Forward Pharma A/S

Forward Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in the development of FP187, a formulation of dimethyl fumarate (DMF) for the treatment of several inflammatory and neurological indications, including multiple sclerosis (MS). The Company’s clinical candidate, FP187, is under development for the treatment of relapsing remitting MS (RRMS) and other immune disorders, such as psoriasis.

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