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

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

Several equities research analysts have recently weighed in on FHTX shares. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective (down from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their target price on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. Finally, B. Riley began coverage on Foghorn Therapeutics in a research report on Thursday, January 30th. They issued a "buy" rating and a $10.00 target price on the stock.

Foghorn Therapeutics Stock Down 7.6 %

FHTX traded down $0.38 on Monday, hitting $4.63. The company had a trading volume of 108,857 shares, compared to its average volume of 150,736. Foghorn Therapeutics has a 12-month low of $3.86 and a 12-month high of $10.25. The company has a market cap of $257.48 million, a PE ratio of -2.41 and a beta of 3.19. The business's fifty day simple moving average is $4.78 and its 200 day simple moving average is $6.80.

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Institutional Investors Weigh In On Foghorn Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Zacks Investment Management acquired a new stake in shares of Foghorn Therapeutics in the third quarter worth $96,000. Lazard Asset Management LLC acquired a new position in Foghorn Therapeutics during the 4th quarter worth $49,000. SG Americas Securities LLC bought a new position in Foghorn Therapeutics during the 3rd quarter worth approximately $99,000. Cubist Systematic Strategies LLC bought a new position in Foghorn Therapeutics during the fourth quarter worth $51,000. Finally, XTX Topco Ltd acquired a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at about $101,000. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

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.