H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Foamix Pharma (NASDAQ: FOMX) today and set a price target of $12. The company’s shares closed yesterday at $5.76.
Selvaraju observed:
“Valuation methodology, risks and uncertainties. We have employed a sum-of-the-parts valuation approach that ascribes a total projected firm value of $545M, which translates into a price objective of $12.00 assuming ~46M fully-diluted shares outstanding as of end-2Q 2019.”
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -2.1% and a 36.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Foamix Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $12.
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The company has a one-year high of $7.45 and a one-year low of $4.34. Currently, Foamix Pharma has an average volume of 108.1K.
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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.
