Brokerages Set Fulcrum Therapeutics, Inc. (NASDAQ:FULC) PT at $6.29

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.29.

Several analysts have recently commented on FULC shares. Leerink Partners raised shares of Fulcrum Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $4.00 to $12.00 in a research note on Friday, May 23rd. Cantor Fitzgerald raised shares of Fulcrum Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 price objective on the stock in a research note on Thursday, May 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $9.00 price objective (up from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. HC Wainwright reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Wednesday, February 26th. Finally, Leerink Partnrs raised shares of Fulcrum Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd.

Fulcrum Therapeutics Trading Down 0.7%

Shares of Fulcrum Therapeutics stock opened at $6.78 on Friday. The stock has a market capitalization of $365.98 million, a price-to-earnings ratio of -21.87 and a beta of 2.41. Fulcrum Therapeutics has a 1-year low of $2.32 and a 1-year high of $10.13. The firm’s 50-day moving average price is $5.14 and its two-hundred day moving average price is $4.25.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. As a group, equities research analysts predict that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FULC. Bank of New York Mellon Corp boosted its position in shares of Fulcrum Therapeutics by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 141,873 shares of the company’s stock worth $667,000 after purchasing an additional 3,126 shares in the last quarter. Bailard Inc. bought a new stake in Fulcrum Therapeutics in the 4th quarter valued at $169,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Fulcrum Therapeutics by 176.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company’s stock valued at $1,728,000 after acquiring an additional 234,810 shares in the last quarter. Intech Investment Management LLC lifted its position in Fulcrum Therapeutics by 74.9% in the 4th quarter. Intech Investment Management LLC now owns 30,499 shares of the company’s stock valued at $143,000 after acquiring an additional 13,057 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Fulcrum Therapeutics by 5.9% in the 4th quarter. American Century Companies Inc. now owns 120,611 shares of the company’s stock valued at $567,000 after acquiring an additional 6,770 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.