Brokerages Set Foghorn Therapeutics Inc. (NASDAQ:FHTX) Price Target at $13.17

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) have been assigned a consensus rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $13.17.

Several analysts recently issued reports on FHTX shares. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. B. Riley initiated coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Jefferies Financial Group dropped their price target 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.

Foghorn Therapeutics Trading Up 4.8 %

Shares of NASDAQ FHTX opened at $4.85 on Monday. 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 $269.72 million, a PE ratio of -2.53 and a beta of 3.19. The company has a 50-day moving average of $4.76 and a 200 day moving average of $6.78.

Institutional Trading of Foghorn Therapeutics

Several hedge funds have recently made changes to their positions in FHTX. Lazard Asset Management LLC purchased a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $49,000. Cubist Systematic Strategies LLC purchased a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets purchased a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $61,000. Finally, Sherbrooke Park Advisers LLC boosted its position in shares of Foghorn Therapeutics by 22.2% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company’s stock worth $74,000 after purchasing an additional 2,841 shares during the period. Hedge funds and other institutional investors own 61.55% of the company’s stock.

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.