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

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 192.79% from the stock's current price.

FHTX has been the subject of a number of other reports. Jefferies Financial Group cut their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a "buy" rating for the company in a report on Monday, December 16th. B. Riley started coverage on Foghorn Therapeutics in a research report on Thursday, January 30th. They issued a "buy" rating and a $10.00 price objective for the company. One 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 stock. According to MarketBeat.com, Foghorn Therapeutics has an average rating of "Buy" and a consensus price target of $13.17.

Foghorn Therapeutics Stock Performance

Shares of NASDAQ:FHTX traded up $0.04 during midday trading on Friday, reaching $4.44. 106,632 shares of the company's stock were exchanged, compared to its average volume of 129,828. The firm has a market capitalization of $246.92 million, a PE ratio of -2.31 and a beta of 3.13. The company's 50 day simple moving average is $4.71 and its two-hundred day simple moving average is $6.68. Foghorn Therapeutics has a 12 month low of $3.86 and a 12 month high of $10.25.

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Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last released 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. On average, research analysts anticipate that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On Foghorn Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in shares of Foghorn Therapeutics by 12.4% during the 4th quarter. Hsbc Holdings PLC now owns 18,728 shares of the company's stock worth $88,000 after buying an additional 2,061 shares during the period. Sherbrooke Park Advisers LLC raised its position in shares of Foghorn Therapeutics by 22.2% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company's stock valued at $74,000 after acquiring an additional 2,841 shares during the period. Northern Trust Corp boosted its stake in Foghorn Therapeutics by 1.1% during the 4th quarter. Northern Trust Corp now owns 253,671 shares of the company's stock worth $1,197,000 after acquiring an additional 2,873 shares during the last quarter. Rhumbline Advisers grew its holdings in Foghorn Therapeutics by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,384 shares of the company's stock valued at $172,000 after purchasing an additional 3,049 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Foghorn Therapeutics by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,841 shares of the company's stock valued at $75,000 after purchasing an additional 3,958 shares during the period. 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.