Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on Foamix Pharma (FOMX) today and set a price target of $15. The company’s shares opened today at $3.56, close to its 52-week low of $3.21.
Chen said:
“We reiterate our OW rating and 12-month PT of $15 on shares of FOMX. We expect pipeline success to drive upward earnings revisions to levels not yet reflected in consensus expectations and FOMX’s stock higher. The company has proprietary technology that we think it can successfully leverage to yield a number of new treatments for unmet needs in dermatology (acne, rosacea, among others). Valuation Summary We arrive at our 12-month price target of $15 for FOMX shares by using a blend of EV/EBITDA, DCF and Base-case analysis.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 14.0% and a 41.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Foamix Pharma with a $12.67 average price target.
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The company has a one-year high of $7.60 and a one-year low of $3.21. Currently, Foamix Pharma has an average volume of 356K.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FOMX in relation to earlier this year.
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Foamix Pharmaceuticals Ltd. is a pharmaceutical company, which focuses on the development and commercialization of proprietary, innovative and differentiated topical drugs for dermatological therapy. Its product portfolios include minocycline foam, minocycline gel, mometasone foam, calcipotriene foam, triamcinolone acetonide foam, betamethasone valerate foam, and betamethasone dipropionate. The company was founded by Dov Tamarkin and Meir Eini on January 19, 2003 and is headquartered in Rehovot, Israel.
