Cantor Fitzgerald slashes price target on Forma Therapeutics Holdings Inc. [FMTX] – find out why.

Forma Therapeutics Holdings Inc. [NASDAQ: FMTX] gained 51.04% or 6.84 points to close at $20.24 with a heavy trading volume of 43779221 shares. The company report on September 1, 2022 that Novo Nordisk to acquire Forma Therapeutics and expand presence in sickle cell disease and rare blood disorders.

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Novo Nordisk and Forma Therapeutics, Holdings Inc. (Nasdaq: FMTX) today announced that they have entered into a definitive agreement under which Novo Nordisk will acquire Forma Therapeutics for $20 per share in cash, which represents a total equity value of $1.1 billion. Forma Therapeutics is a clinical-stage biopharmaceutical company focused on transforming the lives of patients with sickle cell disease (SCD) and rare blood disorders.

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It opened the trading session at $19.83, the shares rose to $20.28 and dropped to $19.765, the range by which the price of stock traded the whole day. The daily chart for FMTX points out that the company has recorded 119.28% gains over the past six months. However, it is still -308.89% lower than its most recent low trading price.

If we look at the average trading volume of 545.62K shares, FMTX reached to a volume of 43779221 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Forma Therapeutics Holdings Inc. [FMTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FMTX shares is $37.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FMTX stock is a recommendation set at 1.50. 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.

Cantor Fitzgerald have made an estimate for Forma Therapeutics Holdings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 13, 2022. While these analysts kept the previous recommendation, Craig Hallum raised their target price to Buy. The new note on the price target was released on August 02, 2021, representing the official price target for Forma Therapeutics Holdings Inc. stock. Previously, the target price had yet another raise from $53 to $55, while H.C. Wainwright kept a Buy rating on FMTX stock.

The Average True Range (ATR) for Forma Therapeutics Holdings Inc. is set at 1.20 The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 8.37.

Trading performance analysis for FMTX stock

Forma Therapeutics Holdings Inc. [FMTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 63.89. With this latest performance, FMTX shares gained by 124.39% in over the last four-week period, additionally plugging by 119.28% over the last 6 months – not to mention a drop of -17.02% 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 FMTX stock in for the last two-week period is set at 90.86, with the RSI for the last a single of trading hit 94.69, and the three-weeks RSI is set at 87.08 for Forma Therapeutics Holdings Inc. [FMTX]. The present Moving Average for the last 50 days of trading for this stock 9.76, while it was recorded at 14.39 for the last single week of trading, and 10.14 for the last 200 days.

Forma Therapeutics Holdings Inc. [FMTX]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -30.17, with Return on Assets sitting at -27.85.

Forma Therapeutics Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.70 and a Current Ratio set at 12.70.

An analysis of insider ownership at Forma Therapeutics Holdings Inc. [FMTX]

There are presently around $845 million, or 88.90% of FMTX stock, in the hands of institutional investors. The top three institutional holders of FMTX stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 9,011,651, which is approximately 0% of the company’s market cap and around 1.80% of the total institutional ownership; ARMISTICE CAPITAL, LLC, holding 4,736,000 shares of the stock with an approximate value of $95.86 million in FMTX stocks shares; and DEEP TRACK CAPITAL, LP, currently with $81.97 million in FMTX stock with ownership of nearly 144.019% of the company’s market capitalization.

Positions in Forma Therapeutics Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 63 institutional holders increased their position in Forma Therapeutics Holdings Inc. [NASDAQ:FMTX] by around 7,468,001 shares. Additionally, 41 investors decreased positions by around 7,698,803 shares, while 16 investors held positions by with 26,605,465 shares. The mentioned changes placed institutional holdings at 41,772,269 shares, according to the latest SEC report filing. FMTX stock had 22 new institutional investments in for a total of 748,792 shares, while 14 institutional investors sold positions of 2,194,165 shares during the same period.


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