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

Foghorn Therapeutics Inc. (NASDAQ:FHTX) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.17.

A number of brokerages have weighed in on FHTX. Jefferies Financial Group lowered their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. HC Wainwright restated a “buy” rating and issued a $13.00 price target (down previously from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. Finally, B. Riley assumed coverage on shares of Foghorn Therapeutics in a research note on Thursday. They set a “buy” rating and a $10.00 price objective on the stock.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of institutional investors have recently modified their holdings of FHTX. Zacks Investment Management acquired a new stake in Foghorn Therapeutics in the third quarter worth $96,000. SG Americas Securities LLC bought a new position in shares of Foghorn Therapeutics during the third quarter worth about $99,000. Renaissance Technologies LLC acquired a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth about $62,000. XTX Topco Ltd bought a new stake in Foghorn Therapeutics in the 3rd quarter valued at about $101,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Foghorn Therapeutics during the 2nd quarter valued at about $64,000. Institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Price Performance

Shares of Foghorn Therapeutics stock opened at $4.19 on Thursday. Foghorn Therapeutics has a 1-year low of $2.70 and a 1-year high of $10.25. The company has a market capitalization of $233.01 million, a PE ratio of -2.18 and a beta of 3.21. The business has a 50-day moving average of $5.32 and a 200-day moving average of $6.92.

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.