Foghorn Therapeutics (NASDAQ:FHTX) Now Covered by Analysts at JMP Securities

JMP Securities started coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a "market outperform" rating and a $9.00 price target on the stock. JMP Securities' price objective would suggest a potential upside of 112.26% from the company's previous close.

Other research analysts also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a report on Friday, March 7th. B. Riley began coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They set a "buy" rating and a $10.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $12.57.

Foghorn Therapeutics Stock Performance

Shares of NASDAQ FHTX opened at $4.24 on Wednesday. The firm has a 50 day moving average price of $4.25 and a 200 day moving average price of $5.58. The stock has a market cap of $235.79 million, a P/E ratio of -2.21 and a beta of 3.16. Foghorn Therapeutics has a 52-week low of $2.94 and a 52-week high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.13. The firm had revenue of $2.86 million during the quarter, compared to the consensus estimate of $8.56 million. Analysts predict that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Institutional Trading of Foghorn Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of FHTX. State Street Corp lifted its holdings in Foghorn Therapeutics by 4.9% during the 3rd quarter. State Street Corp now owns 505,945 shares of the company's stock worth $4,710,000 after purchasing an additional 23,630 shares during the last quarter. Barclays PLC boosted its position in shares of Foghorn Therapeutics by 191.6% in the third quarter. Barclays PLC now owns 39,920 shares of the company's stock valued at $371,000 after acquiring an additional 26,228 shares during the period. Geode Capital Management LLC grew its stake in shares of Foghorn Therapeutics by 27.5% in the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company's stock valued at $6,308,000 after acquiring an additional 146,276 shares in the last quarter. Rhumbline Advisers increased its position in Foghorn Therapeutics by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,384 shares of the company's stock worth $172,000 after acquiring an additional 3,049 shares during the period. Finally, Wellington Management Group LLP raised its stake in Foghorn Therapeutics by 20.6% in the 4th quarter. Wellington Management Group LLP now owns 87,069 shares of the company's stock worth $411,000 after purchasing an additional 14,853 shares in the last quarter. 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.

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