BidaskClub Lowers Foamix Pharmaceuticals (NASDAQ:FOMX) to Buy

BidaskClub downgraded shares of Foamix Pharmaceuticals (NASDAQ:FOMX) from a strong-buy rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

Several other equities research analysts have also recently weighed in on FOMX. HC Wainwright reiterated a buy rating and set a $11.00 price objective (up from $10.00) on shares of Foamix Pharmaceuticals in a research report on Monday, October 21st. Zacks Investment Research upgraded shares of Foamix Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $15.40.

Shares of NASDAQ FOMX opened at $4.12 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 5.72 and a current ratio of 5.72. Foamix Pharmaceuticals has a 52-week low of $1.97 and a 52-week high of $4.84. The firm has a 50 day moving average price of $3.62 and a two-hundred day moving average price of $3.17. The stock has a market cap of $248.17 million, a P/E ratio of -3.17 and a beta of 1.59.

Foamix Pharmaceuticals (NASDAQ:FOMX) last posted its quarterly earnings data on Monday, November 11th. The specialty pharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.07). Analysts predict that Foamix Pharmaceuticals will post -1.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in shares of Foamix Pharmaceuticals by 1,759.8% during the second quarter. Renaissance Technologies LLC now owns 323,600 shares of the specialty pharmaceutical company’s stock worth $770,000 after buying an additional 306,200 shares during the period. JPMorgan Chase & Co. increased its position in shares of Foamix Pharmaceuticals by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 112,536 shares of the specialty pharmaceutical company’s stock worth $270,000 after buying an additional 22,027 shares during the period. Crow Point Partners LLC increased its position in shares of Foamix Pharmaceuticals by 127.7% during the third quarter. Crow Point Partners LLC now owns 87,473 shares of the specialty pharmaceutical company’s stock worth $269,000 after buying an additional 49,053 shares during the period. Phoenix Holdings Ltd. acquired a new stake in shares of Foamix Pharmaceuticals during the third quarter worth $186,000. Finally, California Public Employees Retirement System acquired a new stake in shares of Foamix Pharmaceuticals during the fourth quarter worth $111,000. Institutional investors own 46.95% of the company’s stock.

Foamix Pharmaceuticals Company Profile

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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Analyst Recommendations for Foamix Pharmaceuticals (NASDAQ:FOMX)

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