Guggenheim Initiates a Buy Rating on Foamix Pharma

By Austin Angelo

In a report released yesterday, Rohit Vanjani from Guggenheim initiated coverage with a Buy rating on Foamix Pharma (NASDAQ: FOMX). The company’s shares closed yesterday at $5.59.

According to TipRanks.com, Vanjani is ranked #583 out of 4729 analysts.

Currently, the analyst consensus on Foamix Pharma is Moderate Buy and the average price target is $12, representing an 114.7% upside.

In a report issued on November 29, H.C. Wainwright also reiterated a Buy rating on the stock with a $12 price target.

The company has a one-year high of $11.27 and a one-year low of $4.03. Currently, Foamix Pharma has an average volume of 83.49K.

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Foamix Pharmaceuticals Ltd. engages in the development and commercialization of proprietary minocycline foam for the treatment of acne, impetigo, and other skin conditions. Its product portfolios include minocycline foam, minocycline gel, mometasone foam, calcipotriene foam, triamcinolone acetonide foam, betamethasone valerate foam, and betamethasone dipropionate. The company was founded by Dov Tamarkin and Meir Eini on January 19, 2003 and is headquartered in Rehovot, Israel.