Foghorn Therapeutics’ (FHTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report report published on Friday,Benzinga reports. The brokerage currently has a $13.00 price objective on the stock.

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

Foghorn Therapeutics Trading Up 0.4 %

Shares of FHTX stock opened at $4.52 on Friday. Foghorn Therapeutics has a 12 month low of $3.86 and a 12 month high of $10.25. The stock has a market cap of $251.37 million, a P/E ratio of -2.35 and a beta of 3.13. The company has a 50 day simple moving average of $4.71 and a two-hundred day simple moving average of $6.71.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.13. The business had revenue of $2.86 million for the quarter, compared to analysts’ expectations of $8.56 million. As a group, equities analysts forecast that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of hedge funds have recently made changes to their positions in FHTX. Charles Schwab Investment Management Inc. boosted its stake in shares of Foghorn Therapeutics by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock worth $703,000 after acquiring an additional 7,000 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Foghorn Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock worth $148,000 after acquiring an additional 8,958 shares during the period. Walleye Capital LLC boosted its stake in shares of 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 acquiring an additional 27,782 shares during the period. State Street Corp boosted its stake in shares of Foghorn Therapeutics by 4.9% in the third quarter. State Street Corp now owns 505,945 shares of the company’s stock worth $4,710,000 after acquiring an additional 23,630 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Foghorn Therapeutics by 64.9% in the third quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock worth $672,000 after acquiring an additional 28,427 shares during the period. Institutional investors own 61.55% of the company’s stock.

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.