Fulgent Genetics (NASDAQ:FLGT) Price Target Raised to $73.00 at Piper Sandler

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Fulgent Genetics (NASDAQ:FLGT) had its price target lifted by Piper Sandler from $68.00 to $73.00 in a research note issued to investors on Monday, The Fly reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Fulgent Genetics from a buy rating to a strong-buy rating in a research report on Thursday, July 16th. CSFB lowered their price target on shares of Fulgent Genetics from $12.00 to $11.00 and set a neutral rating for the company in a research note on Tuesday, May 5th. ValuEngine downgraded shares of Fulgent Genetics from a buy rating to a hold rating in a research note on Friday, May 1st. Credit Suisse Group lowered their price target on shares of Fulgent Genetics from $12.00 to $11.00 and set a neutral rating for the company in a research note on Tuesday, May 5th. Finally, BTIG Research began coverage on shares of Fulgent Genetics in a research note on Friday, May 29th. They issued a buy rating and a $20.00 price target for the company. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $35.47.

Shares of NASDAQ:FLGT opened at $50.51 on Monday. Fulgent Genetics has a 52-week low of $6.70 and a 52-week high of $52.47. The firm has a fifty day moving average of $26.64 and a 200 day moving average of $17.82. The firm has a market capitalization of $961.04 million, a PE ratio of 420.95 and a beta of 1.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.33 and a current ratio of 6.33.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.16. Fulgent Genetics had a net margin of 5.78% and a return on equity of 5.05%. On average, sell-side analysts forecast that Fulgent Genetics will post 0.1 EPS for the current fiscal year.

In other news, CFO Paul Kim sold 1,396 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $42.06, for a total transaction of $58,715.76. Following the completion of the transaction, the chief financial officer now directly owns 472,417 shares of the company’s stock, valued at $19,869,859.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jian Xie sold 1,976 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $27.86, for a total transaction of $55,051.36. Following the transaction, the chief operating officer now directly owns 603,712 shares of the company’s stock, valued at $16,819,416.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,898 shares of company stock valued at $10,723,562. Insiders own 47.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Fulgent Genetics by 204.8% in the fourth quarter. Geode Capital Management LLC now owns 93,793 shares of the company’s stock worth $1,209,000 after purchasing an additional 63,020 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in Fulgent Genetics in the first quarter worth about $142,000. Gratus Capital LLC purchased a new stake in Fulgent Genetics in the first quarter worth about $108,000. New York State Common Retirement Fund purchased a new stake in Fulgent Genetics in the first quarter worth about $332,000. Finally, Bank of New York Mellon Corp purchased a new stake in Fulgent Genetics in the first quarter worth about $566,000. 59.32% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

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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