HC Wainwright Reaffirms Buy Rating for Foghorn Therapeutics (NASDAQ:FHTX)

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

FHTX has been the topic of several other research reports. Citizens Jmp initiated coverage on shares of Foghorn Therapeutics in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $9.00 price objective on the stock. B. Riley assumed coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They set a "buy" rating and a $10.00 price target on the stock. Citigroup initiated coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an "outperform" rating for the company. Finally, JMP Securities assumed coverage on Foghorn Therapeutics in a report on Wednesday, April 23rd. They set a "market outperform" rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $12.13.

Foghorn Therapeutics Trading Down 4.2 %

Shares of FHTX traded down $0.18 during trading hours on Wednesday, reaching $4.06. 34,412 shares of the company traded hands, compared to its average volume of 138,951. Foghorn Therapeutics has a 12-month low of $2.94 and a 12-month high of $10.25. The stock's fifty day moving average price is $4.05 and its 200 day moving average price is $5.39. The firm has a market cap of $225.78 million, a price-to-earnings ratio of -2.11 and a beta of 3.13.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.13. The business had revenue of $2.86 million during the quarter, compared to analysts' expectations of $8.56 million. On average, research analysts forecast that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

Several hedge funds have recently made changes to their positions in FHTX. Lazard Asset Management LLC purchased a new position in Foghorn Therapeutics during the fourth quarter worth about $49,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Foghorn Therapeutics during the 4th quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Foghorn Therapeutics in the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets acquired a new position in Foghorn Therapeutics during the fourth quarter worth $61,000. Finally, Sherbrooke Park Advisers LLC boosted its position in 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 purchasing an additional 2,841 shares in the last quarter. Institutional investors and hedge funds own 61.55% of the company's stock.

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.