Foghorn Therapeutics (NASDAQ:FHTX) Coverage Initiated by Analysts at B. Riley

B. Riley initiated coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX - Free Report) in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

Several other equities analysts have also weighed in on FHTX. 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 research note on Monday, December 16th. HC Wainwright restated a "buy" rating and issued a $13.00 price objective (down from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Foghorn Therapeutics presently has an average rating of "Buy" and a consensus target price of $13.17.

Foghorn Therapeutics Stock Performance

NASDAQ FHTX traded down $0.23 during mid-day trading on Thursday, reaching $3.96. 49,249 shares of the stock were exchanged, compared to its average volume of 117,772. The company has a market capitalization of $220.22 million, a P/E ratio of -2.05 and a beta of 3.19. The business's 50 day moving average is $5.32 and its 200-day moving average is $6.93. Foghorn Therapeutics has a 1 year low of $2.70 and a 1 year high of $10.25.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Zacks Investment Management acquired a new stake in shares of Foghorn Therapeutics in the third quarter valued at approximately $96,000. SG Americas Securities LLC acquired a new stake in shares of Foghorn Therapeutics in the 3rd quarter worth $99,000. Renaissance Technologies LLC purchased a new position in shares of Foghorn Therapeutics during the 2nd quarter worth $62,000. XTX Topco Ltd acquired a new position in shares of Foghorn Therapeutics during the 3rd quarter valued at about $101,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Foghorn Therapeutics in the second quarter valued at about $64,000. 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.