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

HC Wainwright reiterated their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a report published on Monday morning, Benzinga reports. HC Wainwright currently has a $20.00 target price on the stock.

Separately, Wedbush restated an outperform rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a research report on Thursday, August 8th.

Foghorn Therapeutics Trading Down 5.2 %

Shares of FHTX stock opened at $5.60 on Monday. The business’s 50-day moving average price is $5.81 and its 200-day moving average price is $5.93. Foghorn Therapeutics has a 12 month low of $2.70 and a 12 month high of $9.97. The firm has a market capitalization of $238.48 million, a price-to-earnings ratio of -2.55 and a beta of 3.10.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.15. The firm had revenue of $6.89 million for the quarter, compared to analyst estimates of $6.60 million. On average, sell-side analysts predict that Foghorn Therapeutics will post -2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Raymond James & Associates increased its holdings in Foghorn Therapeutics by 7.8% in the first quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock worth $14,966,000 after purchasing an additional 162,069 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Foghorn Therapeutics by 101.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock worth $1,451,000 after purchasing an additional 108,700 shares in the last quarter. Vanguard Group Inc. increased its holdings in Foghorn Therapeutics by 7.5% in the first quarter. Vanguard Group Inc. now owns 1,102,493 shares of the company’s stock worth $7,398,000 after purchasing an additional 77,380 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Foghorn Therapeutics by 180.6% in the fourth quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock worth $626,000 after purchasing an additional 62,441 shares in the last quarter. Finally, Birchview Capital LP increased its holdings in Foghorn Therapeutics by 21.2% in the fourth quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after purchasing an additional 56,087 shares in the last quarter. 61.55% of the stock is currently owned by 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.