TipRanks provides a comprehensive view of the most recommended stocks currently on Wall Street via the Analysts’ Top Stocks tool. Fulcrum Therapeutics (NASDAQ:FULC) and Cambium Networks (NASDAQ:CMBM) are among the stocks that have been most recommended by Wall Street analysts today.
Fulcrum Therapeutics (FULC)
Clinical-stage biopharmaceutical company Fulcrum Therapeutics has not broken into profitability since it first started trading in mid-2019. However, it is common for most biotechnology and biopharma companies to focus on growth for years before breaking out of losses.
What is interesting about Fulcrum is its strong cash runway. The company, which exited the third quarter with ample cash and zero debt, updated its cash runway guidance. It now expects its existing cash, cash equivalents, and marketable securities to be sufficient to cover its operating expenses and capital expenditure through late 2024.
“We believe we are well positioned, with a strong cash runway to deliver on our upcoming catalysts as we prepare to have two registration-enabling trials in the next 18 months,” said Fulcrum CEO Bryan Stuart.
On Tuesday, Goldman Sachs (NYSE: GS) analyst Madhu Kumar initiated coverage of Fulcrum with a Buy rating and an $11 price target. In his research report, the analyst keenly focused on the company’s clinical-stage assets, losmapimod in facioscapulohumeral muscular dystrophy which is currently in the pivotal Phase 3 REACH trial, and FTX-6058 in sickle cell disease, currently undergoing a Phase 1b study. Kumar expects “optionality for value to be unlocked” from both programs. He also sees the potential in the programs to be a long-term catalyst for share price growth.
What is the Price Target for FULC Stock?
Fulcrum has a resounding Strong Buy consensus rating on Wall Street, supported by eight unanimous Buys. The stock’s average price target is $23.63, which indicates a whopping 229.`1% in upside potential from the current price.
Cambium Networks (CMBM)
Cambium Networks is a wireless solutions provider which is well-positioned to benefit from a ramp-up of proprietary software and products. This is expected to drive a compelling combination of performance and spectrum efficiency.
Notably, outsourcing the product manufacturing process to third-party partners keeps manufacturing overhead costs and optimizes delivery lead times by conserving working capital.
In its recent quarter, revenues and earnings per share beat analyst estimates by 9.4% and 142%, respectively. For the next three years, revenues are expected to climb 12% per year, which is almost double what is expected from the broader industry over the same time frame.
The stock has a beta of 0.36, meaning it’s less volatile than the overall market.
What is the Price Target for CMBM Stock?
Cambium stock is a Strong Buy on Wall Street, based on three Buys and one Hold. The average price target of $33 means that the stock implies 53.56% upside potential in the next 12 months.
Both Fulcrum and Cambium are companies with solid projected demand. Moreover, with strong business strategies in place, the companies are looking like long-term winners.