Foamix Pharmaceuticals (FOMX) Sees Large Volume Increase

Shares of Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) saw unusually-high trading volume on Wednesday . Approximately 6,173,077 shares traded hands during mid-day trading, an increase of 1,502% from the previous session’s volume of 385,221 shares.The stock last traded at $4.59 and had previously closed at $4.48.

FOMX has been the topic of a number of research reports. HC Wainwright set a $11.00 target price on shares of Foamix Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 8th. Cantor Fitzgerald initiated coverage on shares of Foamix Pharmaceuticals in a research note on Thursday, October 11th. They set an “overweight” rating for the company. Zacks Investment Research raised shares of Foamix Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research note on Wednesday, September 19th. BidaskClub cut shares of Foamix Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, ValuEngine cut shares of Foamix Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Foamix Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $8.25.

The company has a market capitalization of $225.22 million, a P/E ratio of -2.61 and a beta of 2.10.

Foamix Pharmaceuticals (NASDAQ:FOMX) last released its quarterly earnings results on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.10. Foamix Pharmaceuticals had a negative net margin of 2,085.71% and a negative return on equity of 131.84%. The firm had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $1.10 million. As a group, sell-side analysts anticipate that Foamix Pharmaceuticals Ltd will post -1.64 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC purchased a new position in shares of Foamix Pharmaceuticals during the 1st quarter worth about $104,000. Senzar Asset Management LLC purchased a new position in shares of Foamix Pharmaceuticals during the 2nd quarter worth about $338,000. ARK Investment Management LLC boosted its position in Foamix Pharmaceuticals by 17.7% in the 2nd quarter. ARK Investment Management LLC now owns 106,243 shares of the specialty pharmaceutical company’s stock valued at $532,000 after buying an additional 15,980 shares during the period. Wells Fargo & Company MN boosted its position in Foamix Pharmaceuticals by 31.7% in the 3rd quarter. Wells Fargo & Company MN now owns 132,900 shares of the specialty pharmaceutical company’s stock valued at $761,000 after buying an additional 32,013 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in Foamix Pharmaceuticals by 7.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 390,000 shares of the specialty pharmaceutical company’s stock valued at $1,954,000 after buying an additional 25,500 shares during the period. 47.01% of the stock is owned by hedge funds and other institutional investors.

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About Foamix Pharmaceuticals (NASDAQ:FOMX)

Foamix Pharmaceuticals Ltd., a clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations primarily for the treatment of moderate-to-severe acne, moderate-to-severe papulo-pustular rosacea, and other skin conditions in the United States and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline, which has completed a double-blind and 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 caused by staphylococcus aureus, including methicillin-resistant staphylococcus aureus.

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