Foamix Pharmaceuticals Ltd (FOMX) Receives $9.50 Average PT from Brokerages

Shares of Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) have earned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.33.

A number of analysts recently commented on FOMX shares. HC Wainwright set a $11.00 price target on Foamix Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, October 8th. Cantor Fitzgerald began coverage on Foamix Pharmaceuticals in a research report on Thursday, October 11th. They set an “overweight” rating for the company. Zacks Investment Research raised Foamix Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research report on Wednesday, September 19th. BidaskClub lowered Foamix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Cowen set a $30.00 price objective on Foamix Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday.

FOMX stock traded down $0.16 on Monday, reaching $4.42. The company’s stock had a trading volume of 419,330 shares, compared to its average volume of 759,098. Foamix Pharmaceuticals has a 12-month low of $4.12 and a 12-month high of $7.60. The firm has a market capitalization of $240.97 million, a price-to-earnings ratio of -2.51 and a beta of 2.10.

Foamix Pharmaceuticals (NASDAQ:FOMX) last announced its quarterly earnings results on Wednesday, November 7th. The specialty pharmaceutical company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.07). Foamix Pharmaceuticals had a negative return on equity of 148.15% and a negative net margin of 2,049.92%. The business had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $1.10 million. As a group, research analysts predict that Foamix Pharmaceuticals will post -1.64 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC lifted its position in Foamix Pharmaceuticals by 223.2% during the second quarter. Orbimed Advisors LLC now owns 4,040,000 shares of the specialty pharmaceutical company’s stock valued at $20,240,000 after buying an additional 2,790,000 shares during the period. AXA lifted its position in Foamix Pharmaceuticals by 43.8% during the third quarter. AXA now owns 1,369,341 shares of the specialty pharmaceutical company’s stock valued at $7,846,000 after buying an additional 416,787 shares during the period. Millennium Management LLC lifted its position in 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 buying an additional 19,628 shares during the period. Handelsbanken Fonder AB lifted its position in Foamix Pharmaceuticals by 64.1% during the third quarter. Handelsbanken Fonder AB now owns 640,000 shares of the specialty pharmaceutical company’s stock valued at $3,667,000 after buying an additional 250,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Foamix Pharmaceuticals by 26.9% during the third quarter. Bank of New York Mellon Corp now owns 636,127 shares of the specialty pharmaceutical company’s stock valued at $3,645,000 after buying an additional 134,676 shares during the period. 47.01% of the stock is owned by institutional investors and hedge funds.

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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