Zacks: Analysts Set $4.35 Price Target for Fulgent Genetics (FLGT)

Shares of Fulgent Genetics (NASDAQ:FLGT) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation. Fulgent Genetics’ rating score has declined by 50% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a 12-month consensus price objective of $4.35 for the company and are predicting that the company will post ($0.05) earnings per share for the current quarter, according to Zacks. Zacks has also given Fulgent Genetics an industry rank of 210 out of 265 based on the ratings given to related companies.

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A number of analysts have recently weighed in on FLGT shares. Zacks Investment Research upgraded shares of Fulgent Genetics from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th. Piper Jaffray downgraded shares of Fulgent Genetics from an “overweight” rating to a “neutral” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group reduced their target price on shares of Fulgent Genetics from $6.50 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, March 1st.

Fulgent Genetics stock opened at $4.01 on Tuesday. Fulgent Genetics has a twelve month low of $2.72 and a twelve month high of $10.90. The stock has a market capitalization of $72.00, a PE ratio of -36.45 and a beta of 0.31.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Wednesday, February 28th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Fulgent Genetics had a negative return on equity of 4.05% and a negative net margin of 14.21%. The business had revenue of $4.28 million during the quarter, compared to the consensus estimate of $5.26 million. research analysts anticipate that Fulgent Genetics will post -0.27 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. bought a new position in Fulgent Genetics during the 4th quarter valued at about $154,000. Royce & Associates LP bought a new position in Fulgent Genetics during the 4th quarter valued at about $219,000. Finally, Mutual Advisors LLC bought a new position in Fulgent Genetics during the 4th quarter valued at about $1,662,000. Institutional investors own 7.93% of the company’s stock.

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About Fulgent Genetics

Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.

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