Foghorn Therapeutics (NASDAQ:FHTX) Now Covered by Analysts at Guggenheim

Guggenheim assumed coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

Several other research firms have also weighed in on FHTX. Wedbush reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Foghorn Therapeutics in a report on Thursday. B. Riley assumed coverage on shares of Foghorn Therapeutics in a research note on Wednesday, September 17th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Foghorn Therapeutics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.00.

Foghorn Therapeutics Price Performance

Shares of FHTX traded up $0.36 during mid-day trading on Friday, reaching $4.36. The company had a trading volume of 165,555 shares, compared to its average volume of 293,321. The company has a market capitalization of $246.56 million, a P/E ratio of -3.86 and a beta of 3.02. Foghorn Therapeutics has a twelve month low of $2.94 and a twelve month high of $9.70. The company’s 50-day moving average is $4.64 and its 200-day moving average is $4.78.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. The company had revenue of $8.15 million during the quarter, compared to analyst estimates of $6.20 million. As a group, equities analysts expect that Foghorn Therapeutics will post -1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of institutional investors have recently modified their holdings of FHTX. Nuveen LLC acquired a new position in Foghorn Therapeutics during the 1st quarter worth $221,000. Raymond James Financial Inc. increased its stake in shares of Foghorn Therapeutics by 9.3% in the 1st quarter. Raymond James Financial Inc. now owns 2,218,352 shares of the company’s stock valued at $8,097,000 after buying an additional 188,969 shares during the period. SCS Capital Management LLC bought a new stake in shares of Foghorn Therapeutics during the first quarter worth $390,000. Wellington Management Group LLP raised its position in shares of Foghorn Therapeutics by 18.2% during the first quarter. Wellington Management Group LLP now owns 102,888 shares of the company’s stock worth $376,000 after acquiring an additional 15,819 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Foghorn Therapeutics by 69.7% during the first quarter. Deutsche Bank AG now owns 20,890 shares of the company’s stock valued at $76,000 after acquiring an additional 8,580 shares during the period. 61.55% of the stock is owned by institutional investors.

Foghorn Therapeutics Company Profile

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.