Cantor Fitzgerald Weighs in on Fulcrum Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:FULC)

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for shares of Fulcrum Therapeutics in a research report issued to clients and investors on Thursday, August 1st. Cantor Fitzgerald analyst K. Kluska now forecasts that the company will post earnings per share of ($0.57) for the year, up from their previous estimate of ($0.78). Cantor Fitzgerald currently has a “Overweight” rating and a $23.00 target price on the stock. The consensus estimate for Fulcrum Therapeutics’ current full-year earnings is ($1.24) per share.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.01. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%.

Several other equities analysts have also recently issued reports on the company. Oppenheimer decreased their price objective on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $15.00 in a research note on Monday, May 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Fulcrum Therapeutics has an average rating of “Buy” and an average price target of $15.57.

Fulcrum Therapeutics Stock Performance

Shares of FULC opened at $8.87 on Monday. The stock has a 50-day simple moving average of $7.60 and a 200-day simple moving average of $8.24. The stock has a market capitalization of $553.49 million, a PE ratio of -5.57 and a beta of 2.29. Fulcrum Therapeutics has a 1 year low of $3.14 and a 1 year high of $13.70.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its position in Fulcrum Therapeutics by 869.6% during the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after buying an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Fulcrum Therapeutics by 66.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock worth $112,000 after buying an additional 4,766 shares during the period. Capstone Investment Advisors LLC acquired a new position in Fulcrum Therapeutics during the fourth quarter worth approximately $68,000. SG Americas Securities LLC acquired a new position in Fulcrum Therapeutics during the first quarter worth approximately $115,000. Finally, Vanguard Group Inc. increased its position in Fulcrum Therapeutics by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company’s stock worth $23,965,000 after buying an additional 18,681 shares during the period. Institutional investors and hedge funds 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.