Foghorn Therapeutics (NASDAQ:FHTX - Free Report ) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $20.00 target price on the stock.
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Separately, Wedbush restated an outperform rating and set a $13.00 target price on shares of Foghorn Therapeutics in a research report on Wednesday, April 10th.
Check Out Our Latest Research Report on Foghorn Therapeutics
Foghorn Therapeutics Stock Up 7.3 % Shares of NASDAQ:FHTX traded up $0.40 during midday trading on Wednesday, reaching $5.86. 60,554 shares of the company traded hands, compared to its average volume of 143,477. Foghorn Therapeutics has a 12 month low of $2.70 and a 12 month high of $9.97. The firm has a market capitalization of $249.46 million, a price-to-earnings ratio of -2.50 and a beta of 3.13. The firm's fifty day moving average price is $6.48 and its two-hundred day moving average price is $5.26.
Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report ) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.79) by $0.22. The company had revenue of $5.77 million for the quarter, compared to the consensus estimate of $4.91 million. Analysts forecast that Foghorn Therapeutics will post -2.05 earnings per share for the current year.
Hedge Funds Weigh In On Foghorn Therapeutics Several hedge funds and other institutional investors have recently added to or reduced their stakes in FHTX. Raymond James & Associates grew its position in Foghorn Therapeutics by 19.8% during the third quarter. Raymond James & Associates now owns 1,426,226 shares of the company's stock worth $7,131,000 after buying an additional 235,237 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Foghorn Therapeutics in the 3rd quarter worth about $173,000. Exchange Traded Concepts LLC boosted its holdings in shares of Foghorn Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company's stock worth $139,000 after purchasing an additional 5,460 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Foghorn Therapeutics by 788.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company's stock worth $32,000 after purchasing an additional 4,437 shares in the last quarter. Finally, Alta Wealth Advisors LLC purchased a new position in shares of Foghorn Therapeutics in the 4th quarter worth about $194,000. 61.55% of the stock is currently owned by hedge funds and other institutional investors.
About Foghorn Therapeutics (
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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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