Cowen Analysts Give Foamix Pharmaceuticals (FOMX) a $30.00 Price Target

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Cowen set a $30.00 price objective on Foamix Pharmaceuticals (NASDAQ:FOMX) in a research note issued to investors on Wednesday morning. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.

FOMX has been the topic of several other research reports. Zacks Investment Research upgraded Foamix Pharmaceuticals from a hold rating to a buy rating and set a $5.75 target price on the stock in a research report on Wednesday, September 19th. HC Wainwright restated a buy rating and issued a $14.00 target price (up previously from $12.00) on shares of Foamix Pharmaceuticals in a research report on Wednesday, September 12th. BidaskClub downgraded Foamix Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, October 9th. Cantor Fitzgerald started coverage on Foamix Pharmaceuticals in a research report on Thursday, October 11th. They issued an overweight rating on the stock. Finally, ValuEngine downgraded Foamix Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $13.69.

NASDAQ FOMX opened at $4.42 on Wednesday. Foamix Pharmaceuticals has a 1-year low of $4.12 and a 1-year high of $7.60.

Foamix Pharmaceuticals (NASDAQ:FOMX) last released its earnings results on Wednesday, November 7th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.07). The firm had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $1.10 million. Foamix Pharmaceuticals had a negative net margin of 2,049.92% and a negative return on equity of 118.29%. On average, sell-side analysts predict that Foamix Pharmaceuticals will post -1.64 EPS for the current year.

Large investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new stake in shares of Foamix Pharmaceuticals in the first quarter valued at approximately $104,000. Trexquant Investment LP increased its stake in Foamix Pharmaceuticals by 205.6% during the third quarter. Trexquant Investment LP now owns 34,950 shares of the specialty pharmaceutical company’s stock worth $200,000 after acquiring an additional 23,515 shares during the last quarter. Senzar Asset Management LLC acquired a new stake in Foamix Pharmaceuticals during the second quarter worth $338,000. ARK Investment Management LLC increased its stake in Foamix Pharmaceuticals by 17.7% during the second quarter. ARK Investment Management LLC now owns 106,243 shares of the specialty pharmaceutical company’s stock worth $532,000 after acquiring an additional 15,980 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Foamix Pharmaceuticals by 31.7% during the third quarter. Wells Fargo & Company MN now owns 132,900 shares of the specialty pharmaceutical company’s stock worth $761,000 after acquiring an additional 32,013 shares during the last quarter. 47.01% of the stock is owned by hedge funds and other institutional investors.

About Foamix Pharmaceuticals

Foamix Pharmaceuticals Ltd., a clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations primarily for the treatment of moderate-to-severe acne, moderate-to-severe papulo-pustular rosacea, and other skin conditions in the United States and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline, which has completed a double-blind and dose-ranging Phase II clinical trial for the treatment of moderate-to-severe acne; and FMX102 that has completed a Phase II clinical trial for the treatment of impetigo caused by staphylococcus aureus, including methicillin-resistant staphylococcus aureus.

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