Jefferies Assumes Forma Therapeutics (FMTX) at Buy

June 15, 2021 7:30 AM EDT
Get Alerts FMTX Hot Sheet
Price: $23.92 +4.50%

Rating Summary:
    7 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 14 | New: 23
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Jefferies analyst Maury Raycroft assumes coverage on Forma Therapeutics (NASDAQ: FMTX) with a Buy rating and a price target of $40.00 (from $54.00).

The analyst commented, "e are assuming coverage of FMTX at BUY w/ PT $40. FMTX reported new etavoSCD data at EHA'21, supporting differentiated MOA, w/ more to come at ASH'21. Initial FT-7051 mCRPC data also in 4Q21. Olutasidenib in R/R AML NDA prep underway w/potential to partner. W/ ~$600M cash, 3 shots (etavo in SCD pivotal, oluta ready for NDA, and prostate early but lg mkt growth potential) on goal, and recent pullback, we see buying oppty w/ appealing risk-reward profile."

For an analyst ratings summary and ratings history on Forma Therapeutics click here. For more ratings news on Forma Therapeutics click here.

Shares of Forma Therapeutics closed at $24.26 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Jefferies & Co