Analysts Anticipate Fulgent Genetics Inc (NASDAQ:FLGT) to Announce $0.06 Earnings Per Share

Fulgent Genetics Inc (NASDAQ:FLGT) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. Fulgent Genetics’ rating score has improved by 66.7% in the last 90 days as a result of various analysts’ ratings changes.

Analysts have set a one year consensus price target of $12.30 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given Fulgent Genetics an industry rank of 48 out of 255 based on the ratings given to related companies.

FLGT has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research report on Tuesday, October 8th. Piper Jaffray Companies raised shares of Fulgent Genetics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $9.50 to $12.30 in a research report on Tuesday, November 5th. Finally, ValuEngine raised shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in Fulgent Genetics in the 3rd quarter valued at about $27,000. BlackRock Inc. increased its holdings in Fulgent Genetics by 15.9% in the 2nd quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock valued at $111,000 after buying an additional 2,281 shares during the period. River & Mercantile Asset Management LLP bought a new position in Fulgent Genetics in the 2nd quarter valued at about $1,034,000. Finally, Raymond James Trust N.A. bought a new position in Fulgent Genetics in the 3rd quarter valued at about $5,195,000. 9.21% of the stock is currently owned by hedge funds and other institutional investors.

FLGT stock traded down $0.43 during trading hours on Monday, reaching $10.68. The stock had a trading volume of 515,100 shares, compared to its average volume of 261,166. Fulgent Genetics has a fifty-two week low of $3.05 and a fifty-two week high of $16.50. The stock has a market capitalization of $255.21 million, a PE ratio of -56.21 and a beta of 0.93. The stock has a 50-day simple moving average of $11.25 and a 200 day simple moving average of $8.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.22 and a quick ratio of 11.96.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. Fulgent Genetics had a negative net margin of 3.52% and a negative return on equity of 0.16%. The business had revenue of $10.35 million for the quarter, compared to analyst estimates of $8.48 million. On average, sell-side analysts forecast that Fulgent Genetics will post 0.06 EPS for the current fiscal year.

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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