Foamix Pharmaceuticals Ltd. (FOMX) Stock Rating Lowered by Zacks Investment Research
Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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 research firms also recently weighed in on FOMX. TheStreet raised Foamix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Guggenheim restated a “buy” rating and issued a $20.00 price target (up previously from $10.00) on shares of Foamix Pharmaceuticals in a research report on Saturday, August 13th.
Foamix Pharmaceuticals (NASDAQ:FOMX) opened at 9.11 on Tuesday. The firm’s 50-day moving average is $9.36 and its 200-day moving average is $7.57. Foamix Pharmaceuticals has a 52-week low of $5.48 and a 52-week high of $10.40. The firm’s market capitalization is $279.32 million.
Foamix Pharmaceuticals (NASDAQ:FOMX) last posted its earnings results on Wednesday, August 10th. The specialty pharmaceutical company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. Foamix Pharmaceuticals had a negative return on equity of 21.87% and a negative net margin of 1,201.01%. The firm had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.10 million. On average, equities analysts expect that Foamix Pharmaceuticals will post ($0.87) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Deerfield Management Co. boosted its position in shares of Foamix Pharmaceuticals by 35.1% in the second quarter. Deerfield Management Co. now owns 1,282,058 shares of the specialty pharmaceutical company’s stock worth $8,141,000 after buying an additional 333,124 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of Foamix Pharmaceuticals during the second quarter worth approximately $5,048,000. Opaleye Management Inc. boosted its position in shares of Foamix Pharmaceuticals by 17.8% in the second quarter. Opaleye Management Inc. now owns 695,000 shares of the specialty pharmaceutical company’s stock worth $4,413,000 after buying an additional 105,000 shares during the last quarter. State Street Corp boosted its position in shares of Foamix Pharmaceuticals by 4.2% in the first quarter. State Street Corp now owns 293,003 shares of the specialty pharmaceutical company’s stock worth $1,908,000 after buying an additional 11,776 shares during the last quarter. Finally, Sabby Management LLC boosted its position in shares of Foamix Pharmaceuticals by 9.2% in the first quarter. Sabby Management LLC now owns 260,400 shares of the specialty pharmaceutical company’s stock worth $1,698,000 after buying an additional 22,000 shares during the last quarter. Institutional investors own 46.37% of the company’s stock.
About Foamix Pharmaceuticals
Foamix Pharmaceuticals Ltd. is a clinical-stage specialty pharmaceutical company. The Company is focused on developing and commercializing its minocycline foam for the treatment of acne, rosacea, impetigo and other skin conditions. The Company operates in the segment of development and commercialization of foam-based formulations.
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