Fulcrum Therapeutics (FULC) AI Stock Analysis

• Market Cap: $668.94M
• Dividend Yield: N/A
• Average Volume (3M): 764.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.93
• Revenue Growth: -100.00%
• EPS Growth: -305.92%
• Country: US
• Employees: 45
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.31
• Shares Outstanding: 65,970,290
• 10 Day Avg. Volume: 991,518
• 30 Day Avg. Volume: 764,071
• PEG Ratio: 0.33
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 3.64
• P/FCF Ratio: -116.72
• Enterprise Value/Market Cap: 0.57
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -571.39
• Enterprise Value/Ebitda: -5.28
• 1Y Price Target: $17.00
• Price Target Upside: 67.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: $10.50 ▲(3.55% Upside)

The score is held back primarily by weak financial performance (TTM revenue at $0, recurring losses, and significant cash burn) and only modest near-term technical momentum. These are partly offset by positive clinical progress and management’s stated multi-year cash runway, with corporate events supportive on funding but tempered by dilution from the equity offering.

Positive Factors

Strong Financial Position

A robust cash position supports operational stability and strategic initiatives, providing a financial runway through 2028, which is crucial for ongoing R&D and potential market expansion.

Positive Clinical Trial Results

Promising trial results for pociredir enhance Fulcrum's competitive position in treating sickle cell disease, potentially leading to successful commercialization and revenue growth.

Successful Public Offering

The successful capital raise strengthens Fulcrum's financial resources, enabling further investment in R&D and potential acquisitions, which can drive long-term growth.

Negative Factors

Negative Net Income

Ongoing net losses highlight challenges in achieving profitability, which could impact long-term financial sustainability and necessitate continued external funding.

High Operating Losses

Persistent operating losses indicate inefficiencies that may hinder profitability, requiring strategic adjustments to improve cost management and operational performance.

Decrease in Cash Reserves

A decline in cash reserves, despite a strong cash position, underscores the need for careful cash management to ensure sufficient liquidity for future operations and investments.

Fulcrum Therapeutics Business Overview & Revenue Model

Company Description

Fulcrum Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. The company is also discovering drug targets for the treatments of rare neuromuscular, muscular, central nervous system, and hematologic disorders, as well as cardiomyopathies and pulmonary diseases. Fulcrum Therapeutics, Inc. has research and discovery collaboration agreement with Acceleron Pharma Inc. to identify biological targets to modulate specific pathways associated with a targeted indication within the pulmonary disease space; and has a strategic collaboration and license agreement with MyoKardia, Inc. to discover, develop, and commercialize novel targeted therapies for the treatment of genetic cardiomyopathies. Fulcrum Therapeutics, Inc. was Incorporated in 2015 and is headquartered in Cambridge, Massachusetts.

How the Company Makes Money

Fulcrum Therapeutics generates revenue primarily through the development and commercialization of its therapeutic candidates. The company may earn money through several key revenue streams, including partnerships and collaborations with larger pharmaceutical companies, milestone payments upon reaching specific development and regulatory achievements, and royalties from future sales of any marketed products. Additionally, Fulcrum may receive funding through grants or research grants that support its development programs, further contributing to its financial sustainability.

Fulcrum Therapeutics Financial Statement Overview

Summary

Fulcrum Therapeutics shows strong revenue stability and gross profit margin, supported by a robust balance sheet with low leverage and high equity. However, challenges remain in achieving operational profitability and cash flow sustainability due to consistent net losses.

Income Statement

Fulcrum Therapeutics shows a stable revenue over the TTM period with $80M, but the company is struggling with negative net income at -$510,000 and a significant negative EBIT margin of -15.58%. The company's gross profit margin is strong at 78.42%, indicating good cost control over production, but the high operating losses need addressing to improve profitability.

Balance Sheet

The balance sheet of Fulcrum Therapeutics is robust, with a high equity ratio of 94.15% and low debt-to-equity ratio of 0.04, indicating minimal reliance on debt. The company's stockholders' equity stands strong at $228.49M, providing a solid financial foundation. However, the company needs to focus on converting this equity strength into operational profitability.

Cash Flow

Fulcrum Therapeutics shows improvement in cash flow with a positive operating cash flow of $7.81M in the TTM period, turning around from previous negative cash flows. The free cash flow is also positive at $7.56M, indicating better cash management. However, the operating cash flow to net income ratio is not sustainable at 15.31 due to negative net income, which suggests future cash flow stability is uncertain.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	80.00M	2.81M	6.34M	19.16M	8.82M
Gross Profit	-669.00K	78.41M	2.81M	-70.44M	-50.54M	-50.22M
EBITDA	-72.45M	-18.24M	-108.49M	-109.72M	-78.54M	-69.23M
Net Income	-71.11M	-9.72M	-97.33M	-109.87M	-80.85M	-70.82M
Balance Sheet
Total Assets	214.86M	260.72M	257.69M	226.69M	235.00M	129.58M
Cash, Cash Equivalents and Short-Term Investments	200.65M	241.02M	236.22M	202.92M	218.16M	112.91M
Total Debt	7.01M	8.63M	10.82M	13.42M	0.00	17.00K
Total Liabilities	16.49M	17.68M	22.50M	27.74M	23.46M	34.40M
Stockholders Equity	198.37M	243.03M	235.19M	198.94M	211.54M	95.18M
Cash Flow
Free Cash Flow	-60.41M	-2.50M	-91.47M	-99.01M	-80.19M	-55.00M
Operating Cash Flow	-60.03M	-2.22M	-90.97M	-97.05M	-78.48M	-53.66M
Investing Cash Flow	34.03M	32.23M	-36.69M	12.41M	-129.67M	-57.14M
Financing Cash Flow	448.00K	2.75M	118.12M	84.32M	186.51M	71.13M

Fulcrum Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 10.14
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FULC, the sentiment is Neutral. The current price of 10.14 is below the 20-day moving average (MA) of 10.98, below the 50-day MA of 10.67, and above the 200-day MA of 7.78, indicating a neutral trend. The MACD of -0.31 indicates Positive momentum. The RSI at 43.88 is Neutral, neither overbought nor oversold. The STOCH value of 61.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FULC.

Fulcrum Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GLUE	75 Outperform	$1.81B	77.64	9.28%	―	1112.27%	―
FULC	53 Neutral	$668.94M	-8.60	-31.21%	―	-100.00%	-305.92%
MNPR	53 Neutral	$467.78M	-20.36	-26.54%	―	―	-73.48%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
INBX	49 Neutral	$1.05B	―	-144.07%	―	―	―
ADCT	48 Neutral	$448.44M	-2.50	―	―	6.35%	39.57%

Fulcrum Therapeutics Corporate Events

Fulcrum Therapeutics updates strategy on lead sickle cell therapy

On January 12, 2026, Fulcrum Therapeutics updated its corporate presentation ahead of investor meetings and a scheduled appearance at the 44th Annual J.P. Morgan Healthcare Conference, detailing new business and strategic updates centered on its lead candidate pociredir for sickle cell disease and the financial resources backing its pipeline. The company highlighted initial data from the 20 mg cohort of its Phase 1b PIONEER trial as of November 11, 2025, showing robust, rapid, and pan-cellular increases in fetal hemoglobin with early signs of improvements in anemia, hemolysis and reductions in vaso-occlusive crises, while maintaining generally favorable tolerability at once-daily dosing; these results, combined with the continued high unmet need in sickle cell disease despite recent approvals and withdrawals in the space, position pociredir as a potential best-in-class, convenient oral therapy that could fill a significant treatment gap as Fulcrum targets an End-of-Phase meeting with regulators in the first half of 2026 and prepares its next study for initiation in the second half of 2026.

The most recent analyst rating on (FULC) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Fulcrum Therapeutics stock, see the FULC Stock Forecast page.

Fulcrum Therapeutics Announces $175 Million Public Offering

On December 10, 2025, Fulcrum Therapeutics announced the pricing of its underwritten public offering, which includes 11,851,853 shares of common stock and pre-funded warrants to purchase up to 1,111,193 shares, raising gross proceeds of $175 million. The offering is expected to close on December 11, 2025, and the net proceeds will be used for general corporate purposes, including working capital, research and development, and potential acquisitions, positioning Fulcrum to enhance its operations and market presence.

The most recent analyst rating on (FULC) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Fulcrum Therapeutics stock, see the FULC Stock Forecast page.

Fulcrum Therapeutics Reports Positive Phase 1b Trial Results

On December 6, 2025, Fulcrum Therapeutics announced positive initial results from the 20 mg dose cohort of the Phase 1b PIONEER trial of pociredir for sickle cell disease at the 67th American Society of Hematology Annual Meeting. The trial showed a significant increase in fetal hemoglobin levels, with 58% of patients achieving levels associated with reduced vaso-occlusive crises. Pociredir was well-tolerated with no serious adverse events, reinforcing its potential as a best-in-class treatment for sickle cell disease.

The most recent analyst rating on (FULC) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Fulcrum Therapeutics stock, see the FULC Stock Forecast page.