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Investing.com - Raymond James raised its price target on Fulgent Genetics (NASDAQ:FLGT) stock to $36.00 from $25.00 on Friday, while maintaining an Outperform rating following the company’s earnings beat. The new target represents a 22% upside from the current price of $29.59, with the stock already trading near its 52-week high of $30.59. InvestingPro data shows FLGT is currently fairly valued, with shares delivering an impressive 66.33% return over the past year.
The firm cited Fulgent’s continued strong performance, with both revenue and earnings exceeding expectations. Raymond James noted that the core diagnostics business continues to demonstrate growth and has reached approximately breakeven status, according to newly disclosed information. This growth aligns with InvestingPro data showing 13.6% revenue growth in the last twelve months.
The therapeutics division was characterized as a "call option" by the research firm, requiring minimal annual investment to maintain, especially considering Fulgent’s substantial cash position of nearly $800 million in cash and securities on its balance sheet. This strong liquidity position is reflected in Fulgent’s exceptional current ratio of 7.01, with InvestingPro highlighting that the company holds more cash than debt and its liquid assets exceed short-term obligations. For deeper insights on FLGT and 1,400+ other stocks, Pro Research Reports provide comprehensive analysis through intuitive visuals.
Raymond James’ new $36 price target represents approximately 1x projected 2026 sales, which the firm described as "extremely reasonable for a growing franchise in the diagnostics space."
The updated valuation reflects Raymond James’ confidence in Fulgent’s business trajectory while maintaining its previous Outperform recommendation on the stock.
In other recent news, Fulgent Genetics Inc. reported better-than-expected earnings for the third quarter of 2025. The company achieved an earnings per share (EPS) of $0.14, which significantly surpassed the anticipated EPS of -$0.22. Additionally, Fulgent Genetics’ revenue exceeded forecasts, reaching $84.1 million compared to the expected $81.43 million. These results mark a positive development for the company, highlighting its financial performance. Investors may take note of these figures as they consider the company’s recent achievements. The earnings surprise has caught the attention of market participants, reflecting a notable outcome for the quarter. These developments are part of Fulgent Genetics’ latest financial disclosures.
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