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

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) have received an average recommendation of "Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $12.13.

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

Foghorn Therapeutics Stock Performance

FHTX remained flat at $6.19 during trading on Thursday. 82,023 shares of the company's stock traded hands, compared to its average volume of 149,551. The stock has a market capitalization of $345.03 million, a price-to-earnings ratio of -4.55 and a beta of 3.05. The stock's 50-day moving average is $4.91 and its 200 day moving average is $4.52. Foghorn Therapeutics has a 12 month low of $2.94 and a 12 month 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 analysts' expectations of $4.96 million. Sell-side analysts forecast that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

A number of large investors have recently modified their holdings of FHTX. JPMorgan Chase & Co. increased its holdings in shares of Foghorn Therapeutics by 415.5% in the 4th quarter. JPMorgan Chase & Co. now owns 56,531 shares of the company's stock worth $267,000 after acquiring an additional 45,565 shares during the period. Wellington Management Group LLP increased its holdings in shares of Foghorn Therapeutics by 20.6% in the 4th quarter. Wellington Management Group LLP now owns 87,069 shares of the company's stock worth $411,000 after acquiring an additional 14,853 shares during the period. Geode Capital Management LLC increased its holdings in shares of Foghorn Therapeutics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 682,863 shares of the company's stock worth $3,224,000 after acquiring an additional 5,477 shares during the period. Wells Fargo & Company MN grew its position in Foghorn Therapeutics by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 15,841 shares of the company's stock valued at $75,000 after buying an additional 3,958 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Foghorn Therapeutics by 89.2% in the 4th quarter. Renaissance Technologies LLC now owns 47,736 shares of the company's stock valued at $225,000 after buying an additional 22,500 shares in the last quarter. Institutional investors and hedge funds own 61.55% of the company's stock.

About Foghorn Therapeutics

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.