Foundation Medicine (FMI) Crumbles: Stock Falls by 6.8%

Zacks

Foundation Medicine, Inc. (FMI) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $24.97 to $29.93 in the past one-month time frame.

This molecular information products provider has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (1 increase, 2 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

FMI currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Medical sector include Myriad Genetics Inc. (MYGN), Cardiome Pharma Corp. (CRME) and Accuray Incorporated (ARAY). Among these stocks, Myriad and Cardiome carry a Zacks Rank #1 (Strong Buy), while Accuray carries a Zacks Rank #2 (Buy).

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FOUNDATION MEDICINE INC (FMI): Free Stock Analysis Report

CONCORD MEDICAL SERVICES HOLDING (CCM): Free Stock Analysis Report

MYRIAD GENETICS INC (MYGN): Free Stock Analysis Report

CARDIOME PHARMA CORP ORD (CRME): Free Stock Analysis Report


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