Foamix Pharmaceuticals (NASDAQ:FOMX) Stock Rating Upgraded by Zacks Investment Research

Foamix Pharmaceuticals (NASDAQ:FOMX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the company. Barclays initiated coverage on Foamix Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $10.00 target price for the company. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price target on shares of Foamix Pharmaceuticals in a research report on Tuesday, May 7th. HC Wainwright set a $12.00 price target on Foamix Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, ValuEngine downgraded Foamix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Foamix Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $13.96.

NASDAQ FOMX traded up $0.13 during trading hours on Wednesday, hitting $2.46. The company had a trading volume of 20,064 shares, compared to its average volume of 494,414. Foamix Pharmaceuticals has a 52 week low of $1.97 and a 52 week high of $7.60. The company’s 50 day moving average is $2.39. The company has a market capitalization of $130.63 million, a price-to-earnings ratio of -1.45 and a beta of 1.62.

Foamix Pharmaceuticals (NASDAQ:FOMX) last issued its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Foamix Pharmaceuticals had a negative return on equity of 79.46% and a negative net margin of 2,115.11%. The company had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.95 million. As a group, equities research analysts anticipate that Foamix Pharmaceuticals will post -1.61 earnings per share for the current year.

In other news, Director Anna Kazanchyan sold 10,600 shares of Foamix Pharmaceuticals stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $2.61, for a total transaction of $27,666.00. Following the completion of the sale, the director now owns 55,955 shares in the company, valued at approximately $146,042.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 16,353 shares of company stock valued at $41,153. Corporate insiders own 2.95% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC raised its holdings in shares of Foamix Pharmaceuticals by 25.0% during the 2nd quarter. ARK Investment Management LLC now owns 146,745 shares of the specialty pharmaceutical company’s stock valued at $349,000 after buying an additional 29,378 shares in the last quarter. Delek Group Ltd. purchased a new position in shares of Foamix Pharmaceuticals during the 1st quarter valued at about $189,000. Knott David M raised its holdings in shares of Foamix Pharmaceuticals by 68.0% during the 1st quarter. Knott David M now owns 346,346 shares of the specialty pharmaceutical company’s stock valued at $1,299,000 after buying an additional 140,146 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Foamix Pharmaceuticals by 6.3% during the 1st quarter. Handelsbanken Fonder AB now owns 680,000 shares of the specialty pharmaceutical company’s stock valued at $2,550,000 after buying an additional 40,000 shares in the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in shares of Foamix Pharmaceuticals during the 1st quarter valued at about $231,000. 55.13% of the stock is currently owned by institutional investors.

Foamix Pharmaceuticals Company Profile

Foamix Pharmaceuticals Ltd., a late clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations for dermatological therapy in the United States, France, Denmark, and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline that has completed third pivotal Phase III clinical trial for the treatment of moderate-to-severe acne; and FMX103, which is in Phase III clinical trial for the treatment of moderate-to-severe papulopustular rosacea.

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