Oppenheimer Releases a Buy Rating on Fulgent Genetics (FLGT)

Oppenheimer analyst Kevin DeGeeter assigned a Buy rating to Fulgent Genetics (FLGTResearch Report) today and set a price target of $75.00. The company’s shares closed last Tuesday at $30.36.

According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 22.3% and a 48.9% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Rocket Pharmaceuticals, and Ionis Pharmaceuticals.

Fulgent Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $53.67, a 75.3% upside from current levels. In a report issued on September 2, Piper Sandler also maintained a Buy rating on the stock with a $73.00 price target.

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Based on Fulgent Genetics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $17.27 million and net profit of $3.32 million. In comparison, last year the company earned revenue of $8.42 million and had a net profit of $331K.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FLGT in relation to earlier this year.

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Fulgent Genetics, Inc. is a technology company, which focus on offering comprehensive genetic testing to provide physicians with clinically actionable diagnostic information they can use to improve the overall quality of patient care. Its technology platform includes proprietary gene probes, advanced database algorithms, adaptive learning software, and proprietary laboratory information management systems. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.