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

Foghorn Therapeutics (NASDAQ:FHTX)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $13.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 187.61% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. B. Riley assumed coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They set a “buy” rating and a $10.00 price objective for the company. Jefferies Financial Group cut their target price 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $13.17.

Foghorn Therapeutics Price Performance

Shares of FHTX opened at $4.52 on Friday. The company has a market cap of $251.37 million, a PE ratio of -2.35 and a beta of 3.13. The firm has a 50-day moving average of $4.71 and a 200-day moving average of $6.71. Foghorn Therapeutics has a one year low of $3.86 and a one year high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.13. The business had revenue of $2.86 million for the quarter, compared to the consensus estimate of $8.56 million. Analysts expect that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of institutional investors have recently modified their holdings of the business. Zacks Investment Management acquired a new stake in Foghorn Therapeutics in the 3rd quarter worth about $96,000. Lazard Asset Management LLC acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at approximately $49,000. Cubist Systematic Strategies LLC bought a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at approximately $51,000. XTX Topco Ltd acquired a new stake in Foghorn Therapeutics during the third quarter worth approximately $101,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Foghorn Therapeutics during the 4th quarter worth $56,000. 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.