Brokerages Set $9.50 Target Price for Fulgent Genetics Inc (NASDAQ:FLGT)

Fulgent Genetics Inc (NASDAQ:FLGT) has been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Brokerages have set a twelve-month consensus target price of $9.50 for the company and are anticipating that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also given Fulgent Genetics an industry rank of 100 out of 256 based on the ratings given to its competitors.

A number of research analysts recently issued reports on the company. Credit Suisse Group lowered Fulgent Genetics from an “outperform” rating to a “neutral” rating in a report on Friday, April 26th. Piper Jaffray Companies lifted their target price on Fulgent Genetics from $5.30 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research lowered Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Shares of NASDAQ FLGT traded up $0.08 during midday trading on Wednesday, reaching $11.98. 119,000 shares of the company traded hands, compared to its average volume of 26,425. Fulgent Genetics has a 52 week low of $3.02 and a 52 week high of $12.44. The stock has a 50-day moving average price of $7.93 and a 200 day moving average price of $6.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.96 and a quick ratio of 11.96. The company has a market cap of $196.51 million, a price-to-earnings ratio of -63.05 and a beta of 1.47.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. The business had revenue of $8.42 million for the quarter, compared to analysts’ expectations of $6.42 million. Fulgent Genetics had a negative net margin of 12.38% and a negative return on equity of 4.71%. As a group, analysts expect that Fulgent Genetics will post -0.01 EPS for the current year.

In related news, CFO Paul Kim sold 12,389 shares of Fulgent Genetics stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $11.50, for a total transaction of $142,473.50. Following the transaction, the chief financial officer now directly owns 412,250 shares of the company’s stock, valued at $4,740,875. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 57.80% of the stock is owned by insiders.

A hedge fund recently raised its stake in Fulgent Genetics stock. BlackRock Inc. increased its position in shares of Fulgent Genetics Inc (NASDAQ:FLGT) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,607 shares of the company’s stock after purchasing an additional 2,281 shares during the period. BlackRock Inc. owned approximately 0.09% of Fulgent Genetics worth $111,000 as of its most recent filing with the Securities and Exchange Commission. 6.77% of the stock is currently owned by hedge funds and other institutional investors.

About Fulgent Genetics

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.

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