Fulcrum Therapeutics (NASDAQ:FULC) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from a hold rating to a strong-buy rating in a report issued on Friday,Zacks.com reports.

A number of other brokerages have also recently commented on FULC. Leerink Partners raised shares of Fulcrum Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $4.00 to $12.00 in a research report on Friday. HC Wainwright restated a “neutral” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald upgraded shares of Fulcrum Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 target price on the stock in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Hold” and a consensus price target of $5.83.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ:FULC opened at $6.44 on Friday. The company has a fifty day moving average of $4.03 and a 200-day moving average of $3.91. The company has a market capitalization of $347.62 million, a PE ratio of -20.77 and a beta of 2.29. Fulcrum Therapeutics has a 52-week low of $2.32 and a 52-week high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. On average, equities analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently modified their holdings of FULC. Suvretta Capital Management LLC increased its position in shares of Fulcrum Therapeutics by 182.3% in the fourth quarter. Suvretta Capital Management LLC now owns 3,338,466 shares of the company’s stock valued at $15,691,000 after acquiring an additional 2,155,675 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Fulcrum Therapeutics by 50.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,000,000 shares of the company’s stock valued at $14,100,000 after buying an additional 1,000,000 shares during the period. Woodline Partners LP increased its position in shares of Fulcrum Therapeutics by 110.3% during the fourth quarter. Woodline Partners LP now owns 1,410,520 shares of the company’s stock valued at $6,629,000 after buying an additional 739,713 shares during the period. Exome Asset Management LLC increased its position in shares of Fulcrum Therapeutics by 143.0% during the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock valued at $1,985,000 after buying an additional 405,538 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Fulcrum Therapeutics by 865.0% during the first quarter. Acadian Asset Management LLC now owns 344,561 shares of the company’s stock valued at $989,000 after buying an additional 308,854 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.