Q3 2023 Earnings Forecast for Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) Issued By Wedbush

Posted by Defense World Staff on Aug 12th, 2023

Fusion Pharmaceuticals Inc. (NASDAQ:FUSN – Free Report) – Investment analysts at Wedbush increased their Q3 2023 earnings estimates for shares of Fusion Pharmaceuticals in a research report issued on Wednesday, August 9th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($0.38) per share for the quarter, up from their prior forecast of ($0.43). The consensus estimate for Fusion Pharmaceuticals’ current full-year earnings is ($1.71) per share. Wedbush also issued estimates for Fusion Pharmaceuticals’ Q4 2023 earnings at ($0.39) EPS, FY2023 earnings at ($1.60) EPS, Q1 2024 earnings at ($0.26) EPS, FY2024 earnings at ($1.15) EPS, FY2025 earnings at ($1.18) EPS, FY2026 earnings at ($1.48) EPS and FY2027 earnings at ($1.62) EPS.

Fusion Pharmaceuticals (NASDAQ:FUSN – Get Free Report) last released its quarterly earnings data on Thursday, May 11th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.16). The business had revenue of $0.03 million for the quarter. Fusion Pharmaceuticals had a negative return on equity of 52.38% and a negative net margin of 26,656.52%.

Separately, Raymond James assumed coverage on shares of Fusion Pharmaceuticals in a research report on Friday, June 23rd. They issued an “outperform” rating and a $13.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $9.75.

Check Out Our Latest Report on Fusion Pharmaceuticals

Fusion Pharmaceuticals Price Performance

FUSN opened at $3.00 on Friday. The firm has a market cap of $207 million, a price-to-earnings ratio of -1.55 and a beta of -1.22. Fusion Pharmaceuticals has a fifty-two week low of $1.98 and a fifty-two week high of $5.63. The company’s 50-day moving average price is $4.12 and its 200 day moving average price is $4.10. The company has a quick ratio of 12.73, a current ratio of 12.16 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Fusion Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC bought a new position in shares of Fusion Pharmaceuticals in the second quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in shares of Fusion Pharmaceuticals in the 1st quarter valued at approximately $49,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Fusion Pharmaceuticals in the 1st quarter valued at approximately $49,000. Renaissance Technologies LLC acquired a new stake in shares of Fusion Pharmaceuticals in the 3rd quarter valued at approximately $51,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Fusion Pharmaceuticals in the 3rd quarter valued at approximately $86,000. 84.55% of the stock is currently owned by institutional investors and hedge funds.

About Fusion Pharmaceuticals

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Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines in Canada and the United States. Its lead product candidates include FPI-2265 that is in Phase 2 clinical trial to treat prostate-specific membrane antigens; and FPI-1434 that is in Phase 1 clinical trial as a monotherapy in patients with solid tumors expressing insulin-like growth factor 1 receptor.