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Brokerages Set Foghorn Therapeutics Inc. (NASDAQ:FHTX) PT at $12.13

Foghorn Therapeutics logo with Medical background

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) has earned an average rating of "Buy" from the eight brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.13.

Several equities research analysts have recently issued reports on FHTX shares. Citigroup started coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They issued an "outperform" rating for the company. JMP Securities reaffirmed a "market outperform" rating and set a $9.00 price objective on shares of Foghorn Therapeutics in a research report on Thursday, May 15th. Citizens Jmp started coverage on shares of Foghorn Therapeutics in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $9.00 price objective on the stock. Finally, HC Wainwright raised shares of Foghorn Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th.

Check Out Our Latest Research Report on Foghorn Therapeutics

Institutional Trading of Foghorn Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter worth $49,000. Cubist Systematic Strategies LLC bought a new position in Foghorn Therapeutics in the 4th quarter worth approximately $51,000. BNP Paribas Financial Markets acquired a new position in shares of Foghorn Therapeutics during the fourth quarter worth approximately $61,000. Sherbrooke Park Advisers LLC lifted its holdings in shares of Foghorn Therapeutics by 22.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company's stock worth $74,000 after buying an additional 2,841 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Foghorn Therapeutics by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,841 shares of the company's stock worth $75,000 after acquiring an additional 3,958 shares during the period. 61.55% of the stock is owned by institutional investors.

Foghorn Therapeutics Stock Performance

NASDAQ:FHTX traded up $0.08 during mid-day trading on Friday, hitting $4.95. 121,571 shares of the company's stock traded hands, compared to its average volume of 142,837. The company has a market cap of $275.91 million, a PE ratio of -3.64 and a beta of 3.05. The firm's 50 day simple moving average is $4.40 and its 200 day simple moving average is $4.42. Foghorn Therapeutics has a 1 year low of $2.94 and a 1 year high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). The firm had revenue of $5.95 million during the quarter, compared to analyst estimates of $4.96 million. On average, research analysts expect that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Foghorn Therapeutics Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Foghorn Therapeutics (NASDAQ:FHTX)

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