Foghorn Therapeutics (NASDAQ:FHTX) Earns Buy Rating from HC Wainwright

Foghorn Therapeutics (NASDAQ:FHTX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 234.45% from the stock’s previous close.

Separately, Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Foghorn Therapeutics in a research report on Wednesday, April 10th.

Foghorn Therapeutics Price Performance

Shares of NASDAQ:FHTX opened at $5.98 on Tuesday. The firm’s 50 day simple moving average is $6.41 and its 200 day simple moving average is $5.35. Foghorn Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $9.97. The company has a market capitalization of $254.57 million, a price-to-earnings ratio of -2.39 and a beta of 3.15.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its earnings results on Thursday, March 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The firm had revenue of $5.77 million during the quarter, compared to analyst estimates of $4.91 million. Equities research analysts expect that Foghorn Therapeutics will post -2.05 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Foghorn Therapeutics by 788.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $32,000 after purchasing an additional 4,437 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Foghorn Therapeutics in the 1st quarter worth about $77,000. Exchange Traded Concepts LLC raised its holdings in Foghorn Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after buying an additional 5,460 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Foghorn Therapeutics in the third quarter worth $173,000. Finally, Alta Wealth Advisors LLC bought a new position in Foghorn Therapeutics during the 4th quarter worth $194,000. 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.