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

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) have earned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $13.17.

A number of research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Foghorn Therapeutics in a research note on Friday, March 7th. Jefferies Financial Group decreased their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, B. Riley started coverage on Foghorn Therapeutics in a research note on Thursday, January 30th. They set a “buy” rating and a $10.00 price objective for the company.

Hedge Funds Weigh In On Foghorn Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Foghorn Therapeutics by 4.9% in the third quarter. State Street Corp now owns 505,945 shares of the company’s stock valued at $4,710,000 after buying an additional 23,630 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Foghorn Therapeutics by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock worth $703,000 after acquiring an additional 7,000 shares during the last quarter. Barclays PLC increased its position in Foghorn Therapeutics by 191.6% in the 3rd quarter. Barclays PLC now owns 39,920 shares of the company’s stock valued at $371,000 after acquiring an additional 26,228 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Foghorn Therapeutics by 27.5% in the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after acquiring an additional 146,276 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Foghorn Therapeutics during the third quarter worth approximately $101,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

Foghorn Therapeutics Trading Down 1.7 %

FHTX opened at $4.05 on Friday. The stock has a market cap of $225.23 million, a PE ratio of -2.11 and a beta of 3.13. Foghorn Therapeutics has a 1 year low of $3.86 and a 1 year high of $10.25. The stock’s 50 day simple moving average is $4.66 and its 200-day simple moving average is $6.45.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.13. The business had revenue of $2.86 million during the quarter, compared to analyst estimates of $8.56 million. Equities analysts forecast that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

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.