HC Wainwright Reaffirms “Buy” Rating for Foghorn Therapeutics (NASDAQ:FHTX)

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

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

Foghorn Therapeutics Trading Down 2.0 %

Shares of NASDAQ FHTX opened at $5.99 on Wednesday. The stock has a market capitalization of $254.99 million, a PE ratio of -2.78 and a beta of 3.15. The stock’s fifty day simple moving average is $6.48 and its two-hundred day simple moving average is $5.27. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $9.97.

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

Institutional Trading of Foghorn Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHTX. Raymond James & Associates raised its position in Foghorn Therapeutics by 45.0% in the fourth quarter. Raymond James & Associates now owns 2,068,387 shares of the company’s stock valued at $13,341,000 after purchasing an additional 642,161 shares during the period. Panagora Asset Management Inc. raised its position in Foghorn Therapeutics by 180.6% in the fourth quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock valued at $626,000 after purchasing an additional 62,441 shares during the period. Birchview Capital LP raised its position in Foghorn Therapeutics by 21.2% in the fourth quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock valued at $2,070,000 after purchasing an additional 56,087 shares during the period. Alta Wealth Advisors LLC purchased a new stake in Foghorn Therapeutics in the fourth quarter valued at approximately $194,000. Finally, Exchange Traded Concepts LLC raised its position in Foghorn Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after purchasing an additional 5,460 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.