Forward Pharma A/S (FWP) Reaches New 12-Month Low at $2.96
Shares of Forward Pharma A/S (NASDAQ:FWP) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.96 and last traded at $3.15, with a volume of 21000 shares traded. The stock had previously closed at $3.15.
Several brokerages recently commented on FWP. BidaskClub downgraded shares of Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, ValuEngine raised shares of Forward Pharma A/S from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Forward Pharma A/S has a consensus rating of “Buy” and an average price target of $17.00.
A number of large investors have recently modified their holdings of the stock. Alliancebernstein L.P. bought a new position in shares of Forward Pharma A/S during the second quarter valued at $203,000. OxFORD Asset Management LLP bought a new position in shares of Forward Pharma A/S during the second quarter valued at $210,000. Newtyn Management LLC bought a new position in shares of Forward Pharma A/S during the third quarter valued at $1,584,000. BVF Inc. IL raised its stake in shares of Forward Pharma A/S by 137.4% during the fourth quarter. BVF Inc. IL now owns 3,455,117 shares of the biotechnology company’s stock valued at $12,646,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Baupost Group LLC MA raised its stake in shares of Forward Pharma A/S by 1.6% during the third quarter. Baupost Group LLC MA now owns 6,463,265 shares of the biotechnology company’s stock valued at $39,232,000 after acquiring an additional 99,206 shares during the last quarter. 16.55% of the stock is owned by institutional investors and hedge funds.
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About Forward Pharma A/S
Forward Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in the development of FP187, a formulation of dimethyl fumarate (DMF) for the treatment of several inflammatory and neurological indications, including multiple sclerosis (MS). The Company’s clinical candidate, FP187, is under development for the treatment of relapsing remitting MS (RRMS) and other immune disorders, such as psoriasis.
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