Foghorn Therapeutics Inc. (NASDAQ:FHTX) Given Average Rating of "Buy" by Brokerages

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $13.17.

FHTX has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on Foghorn Therapeutics from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. B. Riley assumed coverage on shares of Foghorn Therapeutics in a report on Thursday, January 30th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a report on Friday, March 7th.

Foghorn Therapeutics Trading Down 5.9 %

FHTX traded down $0.25 during mid-day trading on Friday, hitting $3.97. 106,853 shares of the stock were exchanged, compared to its average volume of 130,236. Foghorn Therapeutics has a 1-year low of $3.86 and a 1-year high of $10.25. The firm's fifty day moving average is $4.66 and its two-hundred day moving average is $6.43. The company has a market cap of $220.78 million, a PE ratio of -2.07 and a beta of 3.13.

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Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.13. The company had revenue of $2.86 million for the quarter, compared to analyst estimates of $8.56 million. As a group, research analysts anticipate that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

A number of large investors have recently bought and sold shares of FHTX. Wellington Management Group LLP raised its stake in Foghorn Therapeutics by 20.6% during the 4th quarter. Wellington Management Group LLP now owns 87,069 shares of the company's stock valued at $411,000 after acquiring an additional 14,853 shares during the last quarter. Sherbrooke Park Advisers LLC increased its holdings in shares of Foghorn Therapeutics by 22.2% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company's stock valued at $74,000 after purchasing an additional 2,841 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Foghorn Therapeutics by 58.8% during the fourth quarter. Point72 Asset Management L.P. now owns 634,761 shares of the company's stock worth $2,996,000 after purchasing an additional 235,059 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Foghorn Therapeutics by 58.8% during the fourth quarter. Millennium Management LLC now owns 92,640 shares of the company's stock worth $437,000 after purchasing an additional 34,306 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Foghorn Therapeutics in the 4th quarter valued at $49,000. Institutional investors and hedge funds 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.