Forma Therapeutics (NASDAQ:FMTX) Issues Quarterly Earnings Results

Forma Therapeutics (NASDAQ:FMTX) released its earnings results on Thursday. The company reported ($0.76) EPS for the quarter, hitting the consensus estimate of ($0.76), MarketWatch Earnings reports.

NASDAQ:FMTX opened at $26.75 on Monday. The company has a 50 day moving average price of $26.64 and a 200-day moving average price of $35.84. Forma Therapeutics has a 1-year low of $22.51 and a 1-year high of $56.33.

Several research analysts recently commented on FMTX shares. Zacks Investment Research downgraded shares of Forma Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. Oppenheimer reiterated a “buy” rating on shares of Forma Therapeutics in a research note on Thursday, March 18th. Finally, HC Wainwright raised their price target on shares of Forma Therapeutics from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $59.29.

About Forma Therapeutics

Forma Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on development and commercialization of novel therapeutics for treatment of rare hematologic diseases and cancers. Its core product candidates for development include FT-4202, which is Phase 1 trial for the treatment of sickle cell disease and other hemoglobinopathies; and FT-7051 for the treatment of metastatic castration-resistant prostate cancer.

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