Foghorn Therapeutics Inc. (NASDAQ:FHTX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) have been given an average rating of “Buy” by the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.17.

A number of equities research analysts have weighed in on the company. B. Riley began coverage on Foghorn Therapeutics in a research report on Thursday, January 30th. They set a “buy” rating and a $10.00 price target on the stock. Jefferies Financial Group lowered their price objective on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective (down from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th.

Institutional Trading of Foghorn Therapeutics

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of Foghorn Therapeutics during the third quarter valued at approximately $99,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Foghorn Therapeutics by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock valued at $703,000 after purchasing an additional 7,000 shares in the last quarter. MetLife Investment Management LLC boosted its position in Foghorn Therapeutics by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock valued at $148,000 after acquiring an additional 8,958 shares in the last quarter. Walleye Capital LLC raised its holdings in Foghorn Therapeutics by 162.0% in the third quarter. Walleye Capital LLC now owns 44,927 shares of the company’s stock worth $418,000 after purchasing an additional 27,782 shares in the last quarter. Finally, State Street Corp lifted its position in Foghorn Therapeutics by 4.9% during the third quarter. State Street Corp now owns 505,945 shares of the company’s stock valued at $4,710,000 after acquiring an additional 23,630 shares during the last quarter. 61.55% of the stock is currently owned by institutional investors.

Foghorn Therapeutics Price Performance

NASDAQ FHTX opened at $5.23 on Monday. The stock has a market capitalization of $290.84 million, a PE ratio of -2.72 and a beta of 3.18. Foghorn Therapeutics has a 1 year low of $3.86 and a 1 year high of $10.25. The company’s 50 day simple moving average is $4.79 and its two-hundred day simple moving average is $6.82.

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.