Skip to main content

NEW YORK (TheStreet) -- Foundation Medicine (FMI) - Get Foundation Medicine, Inc. Report shares have more than doubled in value, up 101.17% to $48.14, in trading today after Swiss-based Roche Holding (RHHBY)  purchased a majority stake in the Cambridge, MA company.

Roche bought about 20.6 million shares of Foundation Medicine at $50 per share for a total cost of about $1.2 billion and a majority stake of 56.3% the company announced today. 

Exclusive Report:Jim Cramer's Best Stocks for 2015

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

"By combining FMI's pioneering approach to genomics and molecular information with Roche's expertise in the field of oncology, we can bring personalized healthcare in oncology to the next level," said Roche COO Daniel O'Day.

TheStreet has further coverage of the announcement here.

TheStreet Ratings team rates FOUNDATION MEDICINE INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

TheStreet Recommends

"We rate FOUNDATION MEDICINE INC (FMI) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

Image placeholder title

FMI

data by

YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.