Foghorn Therapeutics (NASDAQ:FHTX) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Foghorn Therapeutics (NASDAQ:FHTX), highlighting concerns about the company’s stock performance.
• B. Riley recently initiated coverage with a "buy" rating and set a price target of $10.00, contributing to an average rating of "buy" across analysts.
• Foghorn Therapeutics has a market cap of $254.39 million and reported quarterly earnings of ($0.28) per share, beating the consensus estimate of ($0.31) but slightly missing revenue expectations.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, B. Riley initiated coverage on Foghorn Therapeutics in a report on Wednesday, September 17th. They issued a "buy" rating and a $10.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $11.00.

Foghorn Therapeutics Stock Up 1.8%

NASDAQ FHTX opened at $4.50 on Wednesday. Foghorn Therapeutics has a 52-week low of $2.94 and a 52-week high of $9.70. The business's 50-day moving average price is $5.04 and its 200 day moving average price is $4.68. The firm has a market cap of $254.39 million, a P/E ratio of -3.78 and a beta of 3.03.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. The company had revenue of $7.56 million for the quarter, compared to analysts' expectations of $7.62 million. As a group, analysts anticipate that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On Foghorn Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Foghorn Therapeutics during the 2nd quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its position in shares of Foghorn Therapeutics by 136.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company's stock valued at $43,000 after acquiring an additional 5,323 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Foghorn Therapeutics during the 1st quarter valued at approximately $68,000. Deutsche Bank AG lifted its position in shares of Foghorn Therapeutics by 69.7% during the 1st quarter. Deutsche Bank AG now owns 20,890 shares of the company's stock valued at $76,000 after acquiring an additional 8,580 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Foghorn Therapeutics by 18.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,908 shares of the company's stock valued at $84,000 after acquiring an additional 2,812 shares during the period. 61.55% of the stock is currently 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.

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