Foghorn Therapeutics’ (FHTX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $13.00 price objective on the stock.

Several other analysts also recently commented on FHTX. B. Riley began coverage on Foghorn Therapeutics in a research note on Thursday, January 30th. They set a “buy” rating and a $10.00 price objective for the company. Jefferies Financial Group reduced their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $13.17.

Foghorn Therapeutics Stock Up 0.4 %

Shares of FHTX stock opened at $4.52 on Friday. The stock’s 50-day moving average price is $4.72 and its 200 day moving average price is $6.74. The stock has a market capitalization of $251.37 million, a PE ratio of -2.35 and a beta of 3.13. Foghorn Therapeutics has a 52-week low of $3.86 and a 52-week high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.13. The company had revenue of $2.86 million for the quarter, compared to analysts’ expectations of $8.56 million. Analysts expect that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of large investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in shares of Foghorn Therapeutics by 12.4% during the 4th quarter. Hsbc Holdings PLC now owns 18,728 shares of the company’s stock worth $88,000 after buying an additional 2,061 shares in the last quarter. Sherbrooke Park Advisers LLC raised its stake in shares of Foghorn Therapeutics by 22.2% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company’s stock worth $74,000 after buying an additional 2,841 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Foghorn Therapeutics by 1.1% in the 4th quarter. Northern Trust Corp now owns 253,671 shares of the company’s stock worth $1,197,000 after acquiring an additional 2,873 shares during the period. Rhumbline Advisers grew its holdings in shares of Foghorn Therapeutics by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock worth $172,000 after acquiring an additional 3,049 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Foghorn Therapeutics by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 15,841 shares of the company’s stock worth $75,000 after acquiring an additional 3,958 shares during the period. 61.55% of the stock is owned by hedge funds and other institutional investors.

About Foghorn Therapeutics

Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system in the United States. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.