B. Riley upgraded shares of Foghorn Therapeutics (NASDAQ:FHTX - Free Report) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.
Other equities research analysts have also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and issued a $13.00 price target (down from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their price objective 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 equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Foghorn Therapeutics currently has a consensus rating of "Buy" and an average target price of $13.17.
Read Our Latest Report on Foghorn Therapeutics
Foghorn Therapeutics Stock Performance
FHTX traded up $0.15 on Wednesday, hitting $4.13. The company had a trading volume of 79,955 shares, compared to its average volume of 118,466. The stock has a market capitalization of $229.67 million, a price-to-earnings ratio of -2.15 and a beta of 3.19. The stock has a fifty day moving average price of $5.24 and a 200-day moving average price of $6.91. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $10.25.
Institutional Investors Weigh In On Foghorn Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of Foghorn Therapeutics by 9.1% during the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company's stock valued at $172,000 after purchasing an additional 3,049 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Foghorn Therapeutics by 10.2% in the third 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 period. MetLife Investment Management LLC boosted its stake in shares of Foghorn Therapeutics by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company's stock worth $148,000 after acquiring an additional 8,958 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Foghorn Therapeutics during the 3rd quarter valued at about $96,000. Finally, SG Americas Securities LLC purchased a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at about $99,000. 61.55% of the stock is owned by institutional investors and hedge funds.
About Foghorn Therapeutics
(
Get Free Report)
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.
Read More
Before you consider Foghorn Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Foghorn Therapeutics wasn't on the list.
While Foghorn Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
