Were Hedge Funds Right About Forma Therapeutics Holdings, Inc. (FMTX)?
As we already know from media reports and hedge fund investor letters, hedge funds delivered their best returns in a decade. Most investors who decided to stick with hedge funds after a rough 2018 recouped their losses by the end of the fourth quarter of 2019. A significant number of hedge funds continued their strong performance in 2020 and 2021 as well. We get to see hedge funds’ thoughts towards the market and individual stocks by aggregating their quarterly portfolio movements and reading their investor letters. In this article, we will particularly take a look at what hedge funds think about Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX).
Analysts Offer Insights on Healthcare Companies: Neoleukin Therapeutics (NASDAQ: NLTX) and Sol-Gel Technologies (NASDAQ: SLGL)
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Achilles Therapeutics (ACHL) Gets a Buy Rating from Oppenheimer
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Markets
Rockwell Med (RMTI)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Rockwell Med, with a price target of $5.50. The company’s shares closed last Friday at $1.06, close to its 52-week low of $0.83.
According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 13.2% and a 52.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as NeuroBo Pharmaceuticals, Bausch Health Companies, and Oramed Pharmaceuticals.
Currently, the analyst consensus on Rockwell Med is a Moderate Buy with an average price target of $5.50.
Biogen (BIIB)
In a report released today, Salim Syed from Mizuho Securities maintained a Hold rating on Biogen, with a price target of $244.00. The company’s shares closed last Friday at $262.63.
Allogene Therapeutics (ALLO)
In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on Allogene Therapeutics, with a price target of $43.00. The company’s shares closed last Wednesday at $35.12.
According to TipRanks.com, Burns is a 4-star analyst with an average return of 15.5% and a 44.8% success rate. Burns covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Turning Point Therapeutics, and Black Diamond Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Allogene Therapeutics with a $46.50 average price target, implying a 42.8% upside from current levels. In a report issued on April 12, Oppenheimer also assigned a Buy rating to the stock with a $52.00 price target.