Foghorn Therapeutics (NASDAQ:FHTX) Receives "Market Outperform" Rating from JMP Securities

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report)'s stock had its "market outperform" rating restated by research analysts at JMP Securities in a report released on Wednesday,Benzinga reports. They currently have a $9.00 price objective on the stock. JMP Securities' price target points to a potential upside of 116.35% from the stock's previous close.

FHTX has been the subject of several other research reports. HC Wainwright restated a "buy" rating and issued a $13.00 price target on shares of Foghorn Therapeutics in a research note on Wednesday. Citizens Jmp initiated coverage on Foghorn Therapeutics in a research report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $9.00 price objective for the company. B. Riley began coverage on Foghorn Therapeutics in a research report on Thursday, January 30th. They set a "buy" rating and a $10.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Foghorn Therapeutics in a report on Wednesday, April 23rd. They issued an "outperform" rating 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $12.13.

Foghorn Therapeutics Price Performance

NASDAQ:FHTX traded down $0.09 during midday trading on Wednesday, hitting $4.16. The company's stock had a trading volume of 4,293 shares, compared to its average volume of 137,936. Foghorn Therapeutics has a fifty-two week low of $2.94 and a fifty-two week high of $10.25. The firm's 50 day moving average is $4.10 and its 200-day moving average is $5.48. The firm has a market cap of $231.35 million, a P/E ratio of -2.17 and a beta of 3.16.

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

Hedge Funds Weigh In On Foghorn Therapeutics

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in shares of Foghorn Therapeutics in the 4th quarter valued at approximately $49,000. Cubist Systematic Strategies LLC acquired a new stake in Foghorn Therapeutics during the fourth quarter worth $51,000. China Universal Asset Management Co. Ltd. acquired a new stake in Foghorn Therapeutics during the fourth quarter worth $56,000. BNP Paribas Financial Markets purchased a new stake in Foghorn Therapeutics in the fourth quarter valued at $61,000. Finally, Sherbrooke Park Advisers LLC lifted its stake in shares of Foghorn Therapeutics by 22.2% in the 4th 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 last quarter. 61.55% of the stock is 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.

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