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

Evercore ISI began coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note released on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $20.00 price objective on the stock.

FHTX has been the subject of a number of other reports. Wedbush reiterated an outperform rating and set a $13.00 target price on shares of Foghorn Therapeutics in a research report on Thursday, August 8th. HC Wainwright reiterated a buy rating and set a $20.00 target price on shares of Foghorn Therapeutics in a research report on Monday, August 12th.

Foghorn Therapeutics Price Performance

FHTX stock opened at $7.51 on Monday. Foghorn Therapeutics has a 1-year low of $2.70 and a 1-year high of $8.44. The company has a market capitalization of $319.82 million, a price-to-earnings ratio of -3.41 and a beta of 3.10. The business has a 50 day simple moving average of $5.95 and a two-hundred day simple moving average of $6.07.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.15. The business had revenue of $6.89 million during the quarter, compared to the consensus estimate of $6.60 million. Sell-side analysts anticipate that Foghorn Therapeutics will post -2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FHTX. Nisa Investment Advisors LLC boosted its position in shares of Foghorn Therapeutics by 788.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $32,000 after acquiring an additional 4,437 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Foghorn Therapeutics by 180.6% during the 4th quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock valued at $626,000 after buying an additional 62,441 shares during the period. Alta Wealth Advisors LLC purchased a new stake in Foghorn Therapeutics during the 4th quarter valued at $194,000. Birchview Capital LP raised its holdings in Foghorn Therapeutics by 21.2% during the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock valued at $2,070,000 after buying an additional 56,087 shares during the period. Finally, Raymond James & Associates raised its holdings in Foghorn Therapeutics by 7.8% during the 1st quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock valued at $14,966,000 after buying an additional 162,069 shares during the period. 61.55% of the stock is currently 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.