In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Foamix Pharma (FOMX), with a price target of $12. The company’s shares closed yesterday at $4.09, close to its 52-week low of $3.60.
Selvaraju said:
“Valuation methodology, risks and uncertainties. Our risk-adjusted net present value (rNPV) of FMX101 is $400M, which factors in an 85% probability of regulatory approval. We ascribe a valuation of $200M to FMX103, which as stated earlier includes an 80% probability of approval based on the recent positive Phase 3 data. We have employed a sum-of-the-parts valuation approach that yields a total projected firm value of $696M, which translates into a price objective of $12.00 assuming ~59M fully-diluted shares outstanding as of end-2019.”
According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -11.1% and a 27.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Foamix Pharma with a $19 average price target, representing a 364.5% upside. In a report issued on November 27, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $15 price target.
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Based on Foamix Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.48 million. In comparison, last year the company had a GAAP net loss of $17.58 million.
Based on the recent corporate insider activity of 39 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.
