Foghorn Therapeutics’ (FHTX) “Buy” Rating Reiterated at HC Wainwright

Foghorn Therapeutics (NASDAQ:FHTX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 243.05% from the company’s previous close.

Separately, Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Foghorn Therapeutics in a research note on Wednesday, April 10th.

Foghorn Therapeutics Trading Down 2.7 %

Shares of NASDAQ FHTX opened at $5.83 on Tuesday. Foghorn Therapeutics has a 1-year low of $2.70 and a 1-year high of $9.97. The company has a 50-day moving average of $6.48 and a two-hundred day moving average of $5.31. The company has a market cap of $248.18 million, a PE ratio of -2.49 and a beta of 3.15.

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

Institutional Investors Weigh In On Foghorn Therapeutics

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates grew its position in shares of Foghorn Therapeutics by 19.8% during the 3rd quarter. Raymond James & Associates now owns 1,426,226 shares of the company’s stock worth $7,131,000 after buying an additional 235,237 shares during the period. Nisa Investment Advisors LLC grew its holdings in Foghorn Therapeutics by 788.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $32,000 after purchasing an additional 4,437 shares during the period. Exchange Traded Concepts LLC increased its stake in 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 purchasing an additional 5,460 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in Foghorn Therapeutics in the third quarter worth $173,000. Finally, Birchview Capital LP boosted its position 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 in the last quarter. 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.