Foghorn Therapeutics (NASDAQ:FHTX) Now Covered by JMP Securities

Equities researchers at JMP Securities started coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a "market outperform" rating and a $9.00 price target on the stock. JMP Securities' price target would suggest a potential upside of 104.50% from the company's current price.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a research note on Friday, March 7th. B. Riley began coverage on shares of Foghorn Therapeutics in a report on Thursday, January 30th. They set a "buy" rating and a $10.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $12.13.

Foghorn Therapeutics Stock Performance

NASDAQ FHTX traded up $0.04 on Wednesday, reaching $4.40. 63,050 shares of the stock traded hands, compared to its average volume of 138,108. The company has a market cap of $244.75 million, a price-to-earnings ratio of -2.29 and a beta of 3.16. Foghorn Therapeutics has a 12 month low of $2.94 and a 12 month high of $10.25. The company has a fifty day moving average price of $4.16 and a 200-day moving average price of $5.51.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.13. The business had revenue of $2.86 million for the quarter, compared to analyst estimates of $8.56 million. As a group, research analysts anticipate that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of hedge funds have recently modified their holdings of FHTX. Lazard Asset Management LLC acquired a new stake in Foghorn Therapeutics during the fourth quarter worth approximately $49,000. Cubist Systematic Strategies LLC acquired a new position in Foghorn Therapeutics during the fourth quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Foghorn Therapeutics in the 4th quarter valued at $56,000. BNP Paribas Financial Markets acquired a new stake in Foghorn Therapeutics during the 4th quarter worth $61,000. Finally, Sherbrooke Park Advisers LLC increased its stake in Foghorn Therapeutics by 22.2% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company's stock valued at $74,000 after purchasing an additional 2,841 shares during the period. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

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.