Forward Pharma A/S (FWP) Receives Average Recommendation of “Buy” from Brokerages
Shares of Forward Pharma A/S (NASDAQ:FWP) have received a consensus rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.00.
A number of research analysts have issued reports on the company. BidaskClub cut Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Zacks Investment Research cut Forward Pharma A/S from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, ValuEngine upgraded Forward Pharma A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 26th.
Large investors have recently made changes to their positions in the business. Alliancebernstein L.P. purchased a new position in Forward Pharma A/S during the second quarter valued at $203,000. OxFORD Asset Management LLP purchased a new position in Forward Pharma A/S during the second quarter valued at $210,000. Eqis Capital Management Inc. raised its stake in Forward Pharma A/S by 280.9% during the third quarter. Eqis Capital Management Inc. now owns 76,867 shares of the biotechnology company’s stock valued at $467,000 after buying an additional 56,689 shares during the last quarter. Newtyn Management LLC purchased a new position in Forward Pharma A/S during the third quarter valued at $1,584,000. Finally, Baupost Group LLC MA raised its stake in Forward Pharma A/S by 1.6% during the third quarter. Baupost Group LLC MA now owns 6,463,265 shares of the biotechnology company’s stock valued at $39,232,000 after buying an additional 99,206 shares during the last quarter. Institutional investors and hedge funds own 21.41% of the company’s stock.
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Forward Pharma A/S Company Profile
Forward Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in the development of FP187, a formulation of dimethyl fumarate (DMF) for the treatment of several inflammatory and neurological indications, including multiple sclerosis (MS). The Company’s clinical candidate, FP187, is under development for the treatment of relapsing remitting MS (RRMS) and other immune disorders, such as psoriasis.
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