Credit Suisse slashes price target on Fulgent Genetics Inc. [FLGT] – find out why.

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Fulgent Genetics Inc. [NASDAQ: FLGT] jumped around 6.81 points on Friday, while shares priced at $92.34 at the close of the session, up 7.96%. The company report on March 5, 2021 that Fulgent Genetics to Participate in the Oppenheimer 31st Annual Healthcare Conference.

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Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing comprehensive testing solutions through its scalable technology platform, announced that its Chairman and Chief Executive Officer Ming Hsieh, Chief Financial Officer Paul Kim, and Chief Commercial Officer Brandon Perthuis are scheduled to virtually participate in the Oppenheimer 31st Annual Healthcare Conference on Tuesday, March 16, 2021. These representatives of the company will host a presentation beginning at 8:40 a.m. ET.


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A live webcast of the presentation will be available on the Investor Relations section of the Fulgent Genetics website at ir.fulgentgenetics.com.

Fulgent Genetics Inc. stock is now 77.24% up from its year-to-date (YTD) trading value. FLGT Stock saw the intraday high of $112.00 and lowest of $81.065 per share. The company’s 52-week high price is 189.89, which means current price is +74.16% above from all time high which was touched on 02/09/21.

Compared to the average trading volume of 2.21M shares, FLGT reached a trading volume of 7432102 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Fulgent Genetics Inc. [FLGT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLGT shares is $85.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLGT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Fulgent Genetics Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 08, 2021. The new note on the price target was released on November 24, 2020, representing the official price target for Fulgent Genetics Inc. stock. Previously, the target price had yet another raise to $75, while Oppenheimer analysts kept a Outperform rating on FLGT stock.

The Average True Range (ATR) for Fulgent Genetics Inc. is set at 18.94, with the Price to Sales ratio for FLGT stock in the period of the last 12 months amounting to 15.36. The Price to Book ratio for the last quarter was 10.90, with the Price to Cash per share for the same quarter was set at 3.33.

How has FLGT stock performed recently?

Fulgent Genetics Inc. [FLGT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.81. With this latest performance, FLGT shares dropped by -27.10% in over the last four-week period, additionally plugging by 220.29% over the last 6 months – not to mention a rise of 413.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FLGT stock in for the last two-week period is set at 42.43, with the RSI for the last a single of trading hit 37.19, and the three-weeks RSI is set at 46.26 for Fulgent Genetics Inc. [FLGT]. The present Moving Average for the last 50 days of trading for this stock 95.78, while it was recorded at 97.16 for the last single week of trading, and 48.01 for the last 200 days.

Fulgent Genetics Inc. [FLGT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fulgent Genetics Inc. [FLGT] shares currently have an operating margin of +68.80 and a Gross Margin at +78.70. Fulgent Genetics Inc.’s Net Margin is presently recorded at +51.85.

Return on Equity for this stock inclined to 67.06, with Return on Assets sitting at 55.34.

Receivables Turnover for the company is 4.41 with a Total Asset Turnover recorded at a value of 1.07.Fulgent Genetics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.

Earnings analysis for Fulgent Genetics Inc. [FLGT]

With the latest financial reports released by the company, Fulgent Genetics Inc. posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -250.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FLGT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fulgent Genetics Inc. go to 72.66%.

Insider trade positions for Fulgent Genetics Inc. [FLGT]

There are presently around $899 million, or 41.20% of FLGT stock, in the hands of institutional investors. The top three institutional holders of FLGT stocks are: BLACKROCK INC. with ownership of 1,984,867, which is approximately 25.085% of the company’s market cap and around 38.30% of the total institutional ownership; VANGUARD GROUP INC, holding 892,536 shares of the stock with an approximate value of $82.42 million in FLGT stocks shares; and INVESCO LTD., currently with $62.3 million in FLGT stock with ownership of nearly 71.676% of the company’s market capitalization.

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Positions in Fulgent Genetics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 155 institutional holders increased their position in Fulgent Genetics Inc. [NASDAQ:FLGT] by around 3,114,452 shares. Additionally, 47 investors decreased positions by around 1,554,008 shares, while 8 investors held positions by with 5,064,916 shares. The mentioned changes placed institutional holdings at 9,733,376 shares, according to the latest SEC report filing. FLGT stock had 88 new institutional investments in for a total of 1,388,276 shares, while 18 institutional investors sold positions of 176,212 shares during the same period.

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