Shares of Fusion Pharmaceuticals Inc. (NASDAQ:FUSN – Get Free Report) traded up 5.4% during trading on Wednesday . The company traded as high as $11.84 and last traded at $11.77. 510,491 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,303,975 shares. The stock had previously closed at $11.17.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Fusion Pharmaceuticals from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Fusion Pharmaceuticals in a research note on Friday, January 26th. William Blair restated an “outperform” rating on shares of Fusion Pharmaceuticals in a research note on Friday, January 5th. Royal Bank of Canada assumed coverage on Fusion Pharmaceuticals in a report on Wednesday, December 20th. They issued an “outperform” rating and a $12.00 price objective for the company. Finally, Bloom Burton reissued a “buy” rating on shares of Fusion Pharmaceuticals in a report on Friday, January 5th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Fusion Pharmaceuticals has an average rating of “Buy” and a consensus price target of $13.80.
Fusion Pharmaceuticals Price Performance
Fusion Pharmaceuticals (NASDAQ:FUSN – Get Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.15. Fusion Pharmaceuticals had a negative return on equity of 48.42% and a negative net margin of 4,136.55%. The business had revenue of $2.01 million for the quarter, compared to the consensus estimate of $0.41 million. Equities research analysts predict that Fusion Pharmaceuticals Inc. will post -1.44 EPS for the current year.
Institutional Investors Weigh In On Fusion Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of Fusion Pharmaceuticals by 94.1% in the first quarter. Federated Hermes Inc. now owns 3,055,037 shares of the company’s stock valued at $23,738,000 after acquiring an additional 1,481,037 shares during the period. UBS Group AG grew its stake in shares of Fusion Pharmaceuticals by 45,219.1% during the first quarter. UBS Group AG now owns 21,300 shares of the company’s stock valued at $165,000 after buying an additional 21,253 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Fusion Pharmaceuticals in the second quarter worth approximately $29,000. Renaissance Technologies LLC bought a new position in Fusion Pharmaceuticals in the 3rd quarter valued at $51,000. Finally, Citadel Advisors LLC bought a new stake in shares of Fusion Pharmaceuticals during the third quarter worth $86,000. 72.85% of the stock is currently owned by hedge funds and other institutional investors.
About Fusion Pharmaceuticals
Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines in Canada and the United States. Its lead product candidates include FPI-2265 that is in Phase 2 clinical trial to treat prostate-specific membrane antigens; and FPI-1434 that is in Phase 1 clinical trial as a monotherapy in patients with solid tumors expressing insulin-like growth factor 1 receptor.
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