Forma Therapeutics Holdings Inc. (FMTX) shares are trading at higher $42.51 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $57.33.
To add more color to this target, the company’s high over the last year is $50.00 and the low is $31.45 while the S&P 500 is up 19.82%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FMTX has a short ratio of 3.50 and outstanding shares of 41.02M.
FMTX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.1 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.94. Forma Therapeutics Holdings Inc. FMTX also noted assets of $467.51 million at the end of the last quarter. Investors should also keep an eye on sector updates as FMTX has historically followed its peers on positive news.
All told, Forma Therapeutics Holdings Inc. FMTX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FMTX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Forma Therapeutics Holdings Inc. FMTX is now commanding a market cap of 1.59B and a float of 38.59M. FMTX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FMTX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in FMTX, either long or short, and we have not been compensated for this article.