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

Key Points

• Analyst consensus: Nine brokers rate Foghorn Therapeutics an average "Moderate Buy" (1 sell, 7 buy, 1 strong buy) with a mean 1‑year price target of $11.125.
• Financials and performance: the stock trades near $4.76 with a $279M market cap, reported a quarterly EPS miss (‑$0.34 vs. ‑$0.30 expected) and $9.25M revenue (vs. $9.50M est.), and analysts expect about ‑$1.07 EPS for the year.
• Pipeline update: Foghorn is a clinical‑stage epigenetics company whose lead candidate, FHD‑286, is in Phase 1 trials targeting tumors with SMARCA2/SMARCA4 alterations.

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.1250.

A number of research firms have commented on FHTX. HC Wainwright reissued a "buy" rating and issued a $13.00 price objective on shares of Foghorn Therapeutics in a research note on Tuesday, March 10th. Wall Street Zen lowered Foghorn Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Jefferies Financial Group reissued a "buy" rating on shares of Foghorn Therapeutics in a research note on Thursday, March 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Foghorn Therapeutics in a research note on Tuesday, April 21st. Finally, Wedbush reissued an "outperform" rating and issued a $10.00 price objective on shares of Foghorn Therapeutics in a research note on Thursday, March 12th.

Foghorn Therapeutics Price Performance

Shares of FHTX stock opened at $4.76 on Thursday. The stock's fifty day simple moving average is $5.17 and its 200 day simple moving average is $5.05. The firm has a market cap of $279.41 million, a price-to-earnings ratio of -4.07 and a beta of 3.11. Foghorn Therapeutics has a one year low of $3.27 and a one year high of $6.95.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). The business had revenue of $9.25 million during the quarter, compared to the consensus estimate of $9.50 million. On average, research analysts anticipate that Foghorn Therapeutics will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FHTX. Brummer Multi Strategy AB bought a new stake in shares of Foghorn Therapeutics during the fourth quarter worth $25,000. Russell Investments Group Ltd. raised its position in shares of Foghorn Therapeutics by 13,755.0% during the third quarter. Russell Investments Group Ltd. now owns 5,542 shares of the company's stock worth $27,000 after acquiring an additional 5,502 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Foghorn Therapeutics by 48.0% during the third quarter. BNP Paribas Financial Markets now owns 7,103 shares of the company's stock worth $35,000 after acquiring an additional 2,305 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Foghorn Therapeutics by 136.8% during the second quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company's stock worth $43,000 after acquiring an additional 5,323 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Foghorn Therapeutics by 120.5% during the fourth quarter. Strs Ohio now owns 8,600 shares of the company's stock worth $46,000 after acquiring an additional 4,700 shares during the last quarter. Institutional investors own 61.55% of the company's stock.

About Foghorn Therapeutics

Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.

The company's lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.

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