Janney Capital Downgrades Foundation Medicine Inc to Sell

Brokerage firm Janney Capital Downgrades its rating on Foundation Medicine Inc(NASDAQ:FMI). The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by Janney Capital was issued on Aug 3, 2016.

Foundation Medicine Inc (FMI) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.04% at a volume of 1,08,712. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.24. The peak price level was also seen at $25.24 while the days lowest was $24.63. Finally the shares closed at $24.72. The 52-week high of the shares is $25.98 while the 52-week low is $13.34. According to the latest information available, the market cap of the company is $863 M.

Foundation Medicine Inc(FMI) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $28.24M. Analysts had an estimated revenue of $26.66M. Earnings per share were $-0.84. Analysts had estimated an EPS of $-0.80.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, David Daly (Chief Commercial Officer) sold 5,008 shares at $17.83 per share price.Also, On Jul 6, 2016, Jason Ryan (Chief Financial Officer) sold 4,687 shares at $17.83 per share price.On Jul 6, 2016, Michael J Pellini (Chief Executive Officer) sold 10,160 shares at $17.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Foundation Medicine Inc. is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. Its platform includes methods and algorithms for analyzing specimens across various types of cancer and for incorporating that information. Its products provide genomic information about each patient’s individual cancer enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies. Its clinical products FoundationOne for solid tumors and FoundationOne Heme for blood-based cancers or hematologic malignancies including leukemia lymphoma myeloma and various sarcomas and pediatric cancers are available comprehensive genomic profiles designed for use in the routine care of patients with cancer. Its brands also include Once. And for All and The Molecular Information Company.

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