Foamix Pharma (FOMX) Receives a Buy from Cantor Fitzgerald


In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Foamix Pharma (FOMX), with a price target of $15. The company’s shares closed yesterday at $4.48, close to its 52-week low of $4.12.

Chen commented:

“We reiterate our OW rating and 12-month PT of $15 on shares of FOMX. We expect pipeline success to drive upwards earnings revisions to levels not yet reflected in consensus expectations and Foamix’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 Foamix 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 15.4% and a 40.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Foamix Pharma with a $18.67 average price target.

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Based on Foamix Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.63 million. In comparison, last year the company had a GAAP net loss of $17.58 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.

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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.

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