Foamix Pharmaceuticals (NASDAQ:FOMX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Foamix Pharmaceuticals (NASDAQ:FOMX) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Foamix Pharmaceuticals Ltd. is a specialty pharmaceutical company. It develops and commercializes foam-based formulations acne, impetigo, and other skin conditions. The Company’s lead product candidates include FMX101, which has completed a 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. It has operations primarily in the United States, Germany, and Israel. Foamix Pharmaceuticals Ltd. is headquartered in Rehovot, Israel. “

A number of other analysts have also recently commented on the stock. HC Wainwright set a $55.00 target price on shares of Acer Therapeutics and gave the stock a buy rating in a research note on Tuesday, May 28th. Barclays reiterated a hold rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. Cantor Fitzgerald reiterated a buy rating and issued a $15.00 target price on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th. Finally, ValuEngine cut shares of Xylem from a buy rating to a hold rating in a research note on Tuesday, May 14th. Three research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $13.96.

FOMX stock opened at $2.35 on Wednesday. The stock has a 50 day moving average of $2.49. The firm has a market cap of $128.45 million, a PE ratio of -1.38 and a beta of 1.62. Foamix Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $7.60.

Foamix Pharmaceuticals (NASDAQ:FOMX) last released its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.95 million. Foamix Pharmaceuticals had a negative return on equity of 79.46% and a negative net margin of 2,115.11%. Sell-side analysts predict that Foamix Pharmaceuticals will post -1.61 EPS for the current year.

In other Foamix Pharmaceuticals news, Director Anna Kazanchyan sold 10,600 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $2.61, for a total transaction of $27,666.00. Following the completion of the transaction, the director now directly owns 55,955 shares of the company’s stock, valued at approximately $146,042.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 15,545 shares of company stock valued at $39,287 over the last three months. 2.95% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FOMX. Perceptive Advisors LLC raised its position in Foamix Pharmaceuticals by 50.0% during the 4th quarter. Perceptive Advisors LLC now owns 4,661,824 shares of the specialty pharmaceutical company’s stock worth $15,850,000 after buying an additional 1,554,400 shares during the last quarter. Sofinnova Investments Inc. raised its position in Foamix Pharmaceuticals by 24.5% during the 4th quarter. Sofinnova Investments Inc. now owns 832,293 shares of the specialty pharmaceutical company’s stock worth $2,987,000 after buying an additional 163,674 shares during the last quarter. Diag Capital Management LP purchased a new position in Foamix Pharmaceuticals during the 4th quarter worth approximately $960,000. BlackRock Inc. raised its position in Foamix Pharmaceuticals by 29.7% during the 4th quarter. BlackRock Inc. now owns 620,816 shares of the specialty pharmaceutical company’s stock worth $2,229,000 after buying an additional 142,159 shares during the last quarter. Finally, Knott David M raised its position in Foamix Pharmaceuticals by 68.0% during the 1st quarter. Knott David M now owns 346,346 shares of the specialty pharmaceutical company’s stock worth $1,299,000 after buying an additional 140,146 shares during the last quarter. 56.38% of the stock is owned by institutional investors.

About Foamix Pharmaceuticals

Foamix Pharmaceuticals Ltd., a late clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations for dermatological therapy in the United States, France, Denmark, and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline that has completed third pivotal Phase III clinical trial for the treatment of moderate-to-severe acne; and FMX103, which is in Phase III clinical trial for the treatment of moderate-to-severe papulopustular rosacea.

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