Foghorn Therapeutics Inc. (NASDAQ:FHTX) Receives Consensus Recommendation of "Buy" from Brokerages

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) has been given a consensus recommendation of "Buy" by the six brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $13.17.

Several research firms recently weighed in on FHTX. B. Riley began coverage on shares of Foghorn Therapeutics in a report on Thursday. They set a "buy" rating and a $10.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $13.00 price target (down from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. Finally, Jefferies Financial Group cut their price target on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, December 16th.

Institutional Trading of Foghorn Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in shares of Foghorn Therapeutics by 9.1% in 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. 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 valued at $703,000 after purchasing an additional 7,000 shares during the period. MetLife Investment Management LLC raised its position in shares of Foghorn Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,898 shares of the company's stock valued at $148,000 after purchasing an additional 8,958 shares during the period. Zacks Investment Management bought a new stake in shares of Foghorn Therapeutics in the third quarter valued at approximately $96,000. Finally, SG Americas Securities LLC bought a new stake in shares of Foghorn Therapeutics in the third quarter valued at approximately $99,000. Institutional investors own 61.55% of the company's stock.

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX traded down $0.21 during mid-day trading on Thursday, reaching $3.98. 54,127 shares of the company's stock traded hands, compared to its average volume of 118,238. Foghorn Therapeutics has a 1-year low of $2.70 and a 1-year high of $10.25. The stock has a market cap of $221.33 million, a P/E ratio of -2.07 and a beta of 3.19. The business has a 50-day simple moving average of $5.32 and a 200 day simple moving average of $6.93.

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.