Foghorn Therapeutics (NASDAQ:FHTX) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note issued to investors on Thursday morning,Benzinga reports. Wedbush currently has a $10.00 target price on the stock.

A number of other research firms have also commented on FHTX. Wall Street Zen raised Foghorn Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. BTIG Research initiated coverage on Foghorn Therapeutics in a report on Thursday, December 18th. They set a “buy” rating and a $11.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a research note on Tuesday. Stifel Nicolaus assumed coverage on Foghorn Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $12.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on Foghorn Therapeutics in a research report on Tuesday, February 17th. They set a “buy” rating and a $12.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.13.

Foghorn Therapeutics Trading Down 12.9%

Shares of FHTX stock opened at $4.92 on Thursday. The firm’s 50 day moving average is $5.67 and its 200 day moving average is $5.06. The stock has a market capitalization of $278.23 million, a P/E ratio of -4.21 and a beta of 3.02. Foghorn Therapeutics has a 12 month low of $2.94 and a 12 month high of $6.95.

Foghorn Therapeutics (NASDAQ:FHTX) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The company had revenue of $9.25 million for the quarter, compared to analyst estimates of $9.50 million. On average, equities analysts predict that Foghorn Therapeutics will post -1.55 EPS for the current year.

Hedge Funds Weigh In On Foghorn Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC raised its holdings in shares of Foghorn Therapeutics by 70.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 27,099 shares of the company’s stock valued at $127,000 after acquiring an additional 11,225 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of Foghorn Therapeutics during the third quarter worth about $788,000. Alta Wealth Advisors LLC bought a new position in shares of Foghorn Therapeutics in the third quarter worth approximately $49,000. Evelyn Partners Asset Management Ltd bought a new position in shares of Foghorn Therapeutics in the second quarter worth approximately $33,000. Finally, XTX Topco Ltd purchased a new stake in Foghorn Therapeutics in the fourth quarter valued at approximately $85,000. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

Foghorn Therapeutics News Roundup

Here are the key news stories impacting Foghorn Therapeutics this week:

• Positive Sentiment: Wedbush reaffirmed an “Outperform” rating and set a $10.00 price target (about a 103% upside vs. current levels), signaling strong analyst conviction and potential upside if clinical/data catalysts progress. Benzinga
• Positive Sentiment: HC Wainwright issued a “Buy” rating on FHTX, adding to bullish analyst coverage that could support buyers ahead of upcoming milestones. HC Wainwright Buy
• Positive Sentiment: Foghorn said it has advanced the FHD-909 (LY4050784) Phase 1 dose‑escalation as planned and strengthened its financial position, which reduces near-term binary risk and supports continued development. TipRanks
• Positive Sentiment: The company provided a 2025–2026 strategic outlook noting the FHD‑909 program is targeting SMARCA4 (BRG1)-mutant cancers (focus on NSCLC) and reiterated development plans — a catalyst timeline investors will watch. GlobeNewswire
• Neutral Sentiment: Brokerages collectively show a consensus “Moderate Buy” stance on FHTX, reflecting mixed but generally favorable sentiment among analysts. Consensus Rating
• Neutral Sentiment: Zacks noted the quarter included a revenue result framed positively in its write-up, providing some offset to headline EPS weakness. Zacks
• Negative Sentiment: Q4 EPS missed expectations — FHTX reported a ($0.34) loss vs. the consensus of ($0.30) — and revenue came in roughly in line/near expectations; the EPS miss is the main near-term negative driver and likely explains the intraday price decline and higher trading volume. Press Release / Earnings

About Foghorn Therapeutics

Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.

The company’s lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.