Foamix Pharmaceuticals (NASDAQ:FOMX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Foamix Pharmaceuticals (NASDAQ:FOMX) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, 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. “

Several other analysts have also recently weighed in on the stock. Barclays restated a hold rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. Cantor Fitzgerald restated a buy rating and set a $15.00 price objective on shares of Foamix Pharmaceuticals in a research report on Tuesday, May 7th. ValuEngine cut shares of Xylem from a buy rating to a hold rating in a research report on Tuesday, May 14th. Finally, HC Wainwright set a $55.00 price objective on shares of Acer Therapeutics and gave the company a buy rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Foamix Pharmaceuticals currently has a consensus rating of Hold and an average target price of $13.96.

NASDAQ FOMX opened at $2.35 on Wednesday. Foamix Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $7.60. The stock has a market cap of $128.45 million, a PE ratio of -1.38 and a beta of 1.62. The business has a 50 day moving average price of $2.49.

Foamix Pharmaceuticals (NASDAQ:FOMX) last posted its quarterly earnings data on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.04). The company had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.95 million. Foamix Pharmaceuticals had a negative net margin of 2,115.11% and a negative return on equity of 79.46%. On average, equities research analysts forecast that Foamix Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

In other news, Director Anna Kazanchyan sold 10,600 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $2.61, for a total transaction of $27,666.00. Following the sale, the director now owns 55,955 shares in the company, valued at approximately $146,042.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 15,545 shares of company stock worth $39,287. Corporate insiders own 2.95% of the company’s stock.

Several institutional investors have recently bought and sold shares of FOMX. Delek Group Ltd. purchased a new position in Foamix Pharmaceuticals in the 1st quarter worth about $189,000. Knott David M increased its stake in Foamix Pharmaceuticals by 68.0% in the 1st quarter. Knott David M now owns 346,346 shares of the specialty pharmaceutical company’s stock worth $1,299,000 after buying an additional 140,146 shares during the period. ARK Investment Management LLC increased its stake in Foamix Pharmaceuticals by 24.4% in the 1st quarter. ARK Investment Management LLC now owns 117,367 shares of the specialty pharmaceutical company’s stock worth $440,000 after buying an additional 22,989 shares during the period. Handelsbanken Fonder AB increased its stake in Foamix Pharmaceuticals by 6.3% in the 1st quarter. Handelsbanken Fonder AB now owns 680,000 shares of the specialty pharmaceutical company’s stock worth $2,550,000 after buying an additional 40,000 shares during the period. Finally, IPG Investment Advisors LLC purchased a new position in Foamix Pharmaceuticals in the 1st quarter worth about $231,000. Hedge funds and other institutional investors own 56.38% of the company’s stock.

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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