Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $13.00 price objective on the stock. Wedbush's price target would suggest a potential upside of 79.06% from the company's current price.
Foghorn Therapeutics Stock Down 2.9 %
Shares of NASDAQ:FHTX traded down $0.22 during trading on Wednesday, reaching $7.26. The stock had a trading volume of 71,462 shares, compared to its average volume of 157,504. Foghorn Therapeutics has a 52 week low of $2.70 and a 52 week high of $9.97. The firm has a market capitalization of $309.06 million, a price-to-earnings ratio of -3.20 and a beta of 3.13. The stock has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $5.11.
Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.79) by $0.22. The firm had revenue of $5.77 million during the quarter, compared to the consensus estimate of $4.91 million. On average, analysts forecast that Foghorn Therapeutics will post -2.05 EPS 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. Raymond James & Associates grew its stake in shares of Foghorn Therapeutics by 19.8% in the third quarter. Raymond James & Associates now owns 1,426,226 shares of the company's stock worth $7,131,000 after acquiring an additional 235,237 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Foghorn Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company's stock worth $139,000 after acquiring an additional 5,460 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Foghorn Therapeutics in the third quarter worth $173,000. Wells Fargo & Company MN grew its stake in shares of Foghorn Therapeutics by 1,368.4% in the fourth quarter. Wells Fargo & Company MN now owns 5,389 shares of the company's stock worth $34,000 after acquiring an additional 5,022 shares during the last quarter. Finally, Barclays PLC boosted its stake in Foghorn Therapeutics by 533.5% during the fourth quarter. Barclays PLC now owns 5,397 shares of the company's stock worth $34,000 after buying an additional 4,545 shares in the last quarter. Institutional investors and hedge funds own 61.55% of the company's stock.
Foghorn Therapeutics Company Profile
(
Get Free Report)
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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