Foghorn Therapeutics Inc. (NASDAQ:FHTX) Given Consensus Rating of "Buy" by Analysts

Key Points

• Foghorn Therapeutics Inc. (NASDAQ:FHTX) has received a consensus rating of "Buy" from six brokerages, including three buy ratings and two strong buy ratings, while one analyst rated it as a sell.
• The company's average twelve-month target price among brokers is $11.00, and recent performance shows FHTX stock opened at $4.06.
• Foghorn Therapeutics reported a revenue of $7.56 million for the last quarter, exceeding expectations slightly, and is anticipated to post a -1.55 EPS for the current year.

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) have earned a consensus rating of "Buy" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.

FHTX has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Foghorn Therapeutics in a research report on Wednesday. B. Riley began coverage on Foghorn Therapeutics in a research report on Wednesday, September 17th. They set a "buy" rating and a $10.00 price target for the company.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of institutional investors have recently made changes to their positions in FHTX. Raymond James Financial Inc. raised its position in shares of Foghorn Therapeutics by 9.3% during the 1st quarter. Raymond James Financial Inc. now owns 2,218,352 shares of the company's stock valued at $8,097,000 after buying an additional 188,969 shares in the last quarter. DAFNA Capital Management LLC increased its stake in Foghorn Therapeutics by 63.2% in the first quarter. DAFNA Capital Management LLC now owns 304,752 shares of the company's stock valued at $1,112,000 after acquiring an additional 118,035 shares during the last quarter. Geode Capital Management LLC raised its position in Foghorn Therapeutics by 16.9% during the second quarter. Geode Capital Management LLC now owns 807,674 shares of the company's stock valued at $3,797,000 after purchasing an additional 116,979 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Foghorn Therapeutics during the second quarter worth about $528,000. Finally, SCS Capital Management LLC purchased a new position in shares of Foghorn Therapeutics in the 1st quarter worth about $390,000. Institutional investors own 61.55% of the company's stock.

Foghorn Therapeutics Trading Down 8.1%

FHTX stock opened at $4.06 on Friday. The firm has a 50 day moving average of $5.01 and a 200-day moving average of $4.69. The firm has a market capitalization of $229.51 million, a P/E ratio of -3.41 and a beta of 3.03. Foghorn Therapeutics has a 12 month low of $2.94 and a 12 month high of $9.70.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $7.56 million during the quarter, compared to analysts' expectations of $7.62 million. Sell-side analysts predict that Foghorn Therapeutics will post -1.55 EPS for the current year.

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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