Foamix Pharmaceuticals (FOMX) Posts Earnings Results, Misses Expectations By $0.04 EPS

Foamix Pharmaceuticals (NASDAQ:FOMX) announced its quarterly earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04), Morningstar.com reports. Foamix Pharmaceuticals had a negative net margin of 2,115.11% and a negative return on equity of 79.46%. The business had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.95 million.

Shares of FOMX stock traded up $0.01 during midday trading on Friday, reaching $2.45. 128,238 shares of the stock were exchanged, compared to its average volume of 331,464. The company has a market capitalization of $127.36 million, a price-to-earnings ratio of -1.44 and a beta of 1.60. Foamix Pharmaceuticals has a 1 year low of $2.30 and a 1 year high of $7.60.

In related news, insider Matthew T. Wiley purchased 13,440 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $3.76 per share, for a total transaction of $50,534.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anna Kazanchyan sold 10,600 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $2.61, for a total value of $27,666.00. Following the completion of the sale, the director now owns 55,955 shares in the company, valued at approximately $146,042.55. The disclosure for this sale can be found here. Insiders sold a total of 19,911 shares of company stock worth $62,582 in the last 90 days. 2.95% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in FOMX. Perceptive Advisors LLC lifted its position in Foamix Pharmaceuticals by 50.0% in the 4th quarter. Perceptive Advisors LLC now owns 4,661,824 shares of the specialty pharmaceutical company’s stock valued at $15,850,000 after acquiring an additional 1,554,400 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Foamix Pharmaceuticals during the 1st quarter valued at $3,334,000. Stonepine Capital Management LLC lifted its holdings in shares of Foamix Pharmaceuticals by 134.7% during the 4th quarter. Stonepine Capital Management LLC now owns 1,293,177 shares of the specialty pharmaceutical company’s stock valued at $4,643,000 after buying an additional 742,099 shares during the period. Knott David M bought a new position in shares of Foamix Pharmaceuticals during the 4th quarter valued at $740,000. Finally, Opaleye Management Inc. bought a new position in shares of Foamix Pharmaceuticals during the 1st quarter valued at $675,000. 56.65% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on FOMX shares. Cowen set a $30.00 price target on Foamix Pharmaceuticals and gave the company a “buy” rating in a report on Friday, March 1st. Cantor Fitzgerald restated a “buy” rating and set a $15.00 price target on shares of Foamix Pharmaceuticals in a report on Tuesday, April 2nd. ValuEngine downgraded Foamix Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Finally, HC Wainwright set a $12.00 target price on Foamix Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Foamix Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $14.75.

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Foamix Pharmaceuticals Company Profile

Foamix Pharmaceuticals Ltd., a late clinical-stage specialty pharmaceutical company, develops and commercializes foam-based formulations for dermatological therapy in the United States, France, Denmark, and Germany. Its lead product candidates include FMX101, a novel topical foam formulation of the antibiotic minocycline that has completed third pivotal Phase III clinical trial for the treatment of moderate-to-severe acne; and FMX103, which is in Phase III clinical trial for the treatment of moderate-to-severe papulopustular rosacea.

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Earnings History for Foamix Pharmaceuticals (NASDAQ:FOMX)

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