Zacks Investment Research upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.
According to Zacks, “Fulgent Genetics, Inc. is a technology company. It provide genetic testing services to physicians with clinically actionable diagnostic information. The Company’s technology platform integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory process which serves primarily to hospitals and medical institutions. Fulgent Genetics, Inc. is headquartered in Temple City, California. “
Several other brokerages have also weighed in on FLGT. ValuEngine lowered Fulgent Genetics from a buy rating to a hold rating in a research report on Friday, May 1st. Piper Sandler lifted their price target on Fulgent Genetics from $18.00 to $21.00 and gave the stock an overweight rating in a research report on Wednesday, June 17th. Credit Suisse Group cut their price target on Fulgent Genetics from $12.00 to $11.00 and set a neutral rating on the stock in a research report on Tuesday, May 5th. BidaskClub lowered Fulgent Genetics from a strong-buy rating to a buy rating in a research report on Saturday, June 6th. Finally, CSFB cut their price target on Fulgent Genetics from $12.00 to $11.00 and set a neutral rating on the stock in a research report on Tuesday, May 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fulgent Genetics currently has an average rating of Buy and an average price target of $16.05.
Shares of NASDAQ FLGT opened at $18.92 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.37 and a current ratio of 6.37. Fulgent Genetics has a fifty-two week low of $5.95 and a fifty-two week high of $20.60. The firm has a market capitalization of $409.44 million, a PE ratio of -1,892,000.00 and a beta of 1.65. The stock’s 50-day simple moving average is $16.57 and its 200-day simple moving average is $14.69.
Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Monday, May 4th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). Fulgent Genetics had a positive return on equity of 0.52% and a negative net margin of 1.31%. The business had revenue of $7.75 million for the quarter, compared to analyst estimates of $7.69 million. On average, sell-side analysts forecast that Fulgent Genetics will post -0.05 earnings per share for the current fiscal year.
In other Fulgent Genetics news, Director John C. Bolger sold 8,677 shares of Fulgent Genetics stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $15.36, for a total value of $133,278.72. Following the transaction, the director now directly owns 9,342 shares in the company, valued at approximately $143,493.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 10,523 shares of company stock worth $164,131 over the last quarter. Company insiders own 47.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in FLGT. Flagship Harbor Advisors LLC purchased a new position in shares of Fulgent Genetics in the 1st quarter valued at approximately $65,000. Tower Research Capital LLC TRC grew its stake in shares of Fulgent Genetics by 596.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 9,068 shares of the company’s stock valued at $98,000 after purchasing an additional 7,766 shares during the last quarter. Gratus Capital LLC acquired a new position in Fulgent Genetics during the first quarter worth $108,000. Paloma Partners Management Co purchased a new position in Fulgent Genetics in the first quarter worth $121,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Fulgent Genetics in the first quarter valued at $142,000. Institutional investors own 59.32% of the company’s stock.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
Featured Article: Why is the price target of stocks important?
Get a free copy of the Zacks research report on Fulgent Genetics (FLGT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fulgent Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulgent Genetics and related companies with MarketBeat.com's FREE daily email newsletter.