Foghorn Therapeutics (NASDAQ:FHTX) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report sent to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $20.00 price objective on the stock.

Separately, Wedbush reissued an outperform rating and issued a $13.00 price objective on shares of Foghorn Therapeutics in a research report on Wednesday, April 10th.

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX opened at $5.86 on Wednesday. Foghorn Therapeutics has a twelve month low of $2.70 and a twelve month high of $9.97. The business’s 50 day moving average price is $6.48 and its two-hundred day moving average price is $5.26.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its earnings results on Thursday, March 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The business had revenue of $5.77 million for the quarter, compared to analyst estimates of $4.91 million. As a group, equities research analysts expect that Foghorn Therapeutics will post -2.05 EPS for the current fiscal year.

Institutional Trading of Foghorn Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in Foghorn Therapeutics by 7.8% during the first quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock worth $14,966,000 after acquiring an additional 162,069 shares during the period. Birchview Capital LP increased its holdings in shares of Foghorn Therapeutics by 21.2% during the fourth quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after purchasing an additional 56,087 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Foghorn Therapeutics by 180.6% during the fourth quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock worth $626,000 after purchasing an additional 62,441 shares during the period. Alta Wealth Advisors LLC acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at approximately $194,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Foghorn Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after buying an additional 5,460 shares during the period. 61.55% of the stock is owned by institutional investors and hedge funds.

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.