Brokerages Set Forward Pharma A/S (FWP) Target Price at $17.00

Forward Pharma A/S (NASDAQ:FWP) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of analysts have recently commented on FWP shares. ValuEngine upgraded Forward Pharma A/S from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BidaskClub cut Forward Pharma A/S from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 21st. Finally, Zacks Investment Research cut Forward Pharma A/S from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th.

Several institutional investors have recently bought and sold shares of FWP. Alliancebernstein L.P. purchased a new stake in shares of Forward Pharma A/S in the second quarter valued at approximately $203,000. OxFORD Asset Management LLP purchased a new stake in shares of Forward Pharma A/S during the second quarter worth approximately $210,000. Eqis Capital Management Inc. increased its position in shares of Forward Pharma A/S by 280.9% during the third quarter. Eqis Capital Management Inc. now owns 76,867 shares of the biotechnology company’s stock worth $467,000 after purchasing an additional 56,689 shares in the last quarter. Baupost Group LLC MA increased its position 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 worth $39,232,000 after purchasing an additional 99,206 shares in the last quarter. Finally, Newtyn Management LLC purchased a new stake in shares of Forward Pharma A/S during the third quarter worth approximately $1,584,000. Institutional investors and hedge funds own 21.31% of the company’s stock.

Shares of Forward Pharma A/S (NASDAQ:FWP) traded down $0.04 during mid-day trading on Friday, reaching $3.23. The company had a trading volume of 21,400 shares, compared to its average volume of 108,715. The stock has a market capitalization of $154.29, a PE ratio of -4.55 and a beta of 1.12. Forward Pharma A/S has a 52 week low of $3.00 and a 52 week high of $31.25.

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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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