Foghorn Therapeutics (NASDAQ:FHTX) Given "Buy" Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX - Free Report) in a report published on Wednesday morning,Benzinga reports. The firm currently has a $13.00 price target on the stock.

A number of other brokerages have also 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. JMP Securities started coverage on Foghorn Therapeutics in a research note on Wednesday, April 23rd. They issued a "market outperform" rating and a $9.00 price objective on the stock. B. Riley assumed coverage on Foghorn Therapeutics in a research report on Thursday, January 30th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Citizens Jmp began coverage on Foghorn Therapeutics in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $9.00 target price on the stock. One equities research 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $12.13.

Foghorn Therapeutics Trading Up 1.9 %

Shares of NASDAQ FHTX traded up $0.08 during midday trading on Wednesday, reaching $4.24. The company's stock had a trading volume of 108,884 shares, compared to its average volume of 139,003. The stock has a 50 day simple moving average of $4.05 and a 200-day simple moving average of $5.42. The stock has a market capitalization of $235.79 million, a price-to-earnings ratio of -2.21 and a beta of 3.16. Foghorn Therapeutics has a fifty-two week low of $2.94 and a fifty-two week high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates 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, equities analysts anticipate that Foghorn Therapeutics will post -1.55 EPS for the current year.

Institutional Trading of Foghorn Therapeutics

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of Foghorn Therapeutics in the fourth quarter worth about $49,000. Cubist Systematic Strategies LLC acquired a new position in Foghorn Therapeutics during the 4th quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. bought a new position in Foghorn Therapeutics in the 4th quarter valued at approximately $56,000. BNP Paribas Financial Markets acquired a new stake in Foghorn Therapeutics in the fourth quarter valued at approximately $61,000. Finally, Sherbrooke Park Advisers LLC grew its stake 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. 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.