Piper Sandler Boosts Fulgent Genetics (NASDAQ:FLGT) Price Target to $30.00

Fulgent Genetics (NASDAQ:FLGT) had its target price upped by research analysts at Piper Sandler from $21.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 3.16% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Wednesday, October 8th. UBS Group upgraded Fulgent Genetics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $30.00 in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.33.

Fulgent Genetics Stock Performance

Fulgent Genetics stock opened at $29.08 on Tuesday. Fulgent Genetics has a fifty-two week low of $14.57 and a fifty-two week high of $29.47. The stock’s 50 day simple moving average is $23.04 and its two-hundred day simple moving average is $21.09. The stock has a market cap of $890.11 million, a price-to-earnings ratio of -17.52 and a beta of 0.92.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Friday, November 7th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. The company had revenue of $84.07 million during the quarter, compared to analysts’ expectations of $81.43 million. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. On average, analysts predict that Fulgent Genetics will post -0.85 earnings per share for the current year.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 1,199 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52. Following the sale, the chief operating officer directly owned 365,249 shares in the company, valued at approximately $7,845,548.52. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 5,577 shares of company stock valued at $121,024. Corporate insiders own 33.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLGT. Headlands Technologies LLC boosted its position in shares of Fulgent Genetics by 8.0% during the first quarter. Headlands Technologies LLC now owns 7,041 shares of the company’s stock valued at $119,000 after buying an additional 524 shares during the last quarter. Signaturefd LLC lifted its stake in Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock valued at $38,000 after acquiring an additional 721 shares during the period. Rhumbline Advisers boosted its holdings in shares of Fulgent Genetics by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock valued at $659,000 after acquiring an additional 785 shares during the last quarter. Aigen Investment Management LP grew its stake in shares of Fulgent Genetics by 11.3% in the first quarter. Aigen Investment Management LP now owns 13,081 shares of the company’s stock worth $221,000 after acquiring an additional 1,328 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Fulgent Genetics by 2.1% during the first quarter. Hsbc Holdings PLC now owns 82,571 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,695 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company’s clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.