Foghorn Therapeutics (NASDAQ:FHTX) Stock Rating Reaffirmed by HC Wainwright

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright's price target points to a potential upside of 255.24% from the company's current price.

Separately, Wedbush restated an "outperform" rating and set a $13.00 target price on shares of Foghorn Therapeutics in a report on Wednesday, April 10th.

Foghorn Therapeutics Stock Performance

Shares of NASDAQ:FHTX traded down $0.20 during trading on Tuesday, reaching $5.63. The company had a trading volume of 58,265 shares, compared to its average volume of 139,291. The firm's fifty day moving average is $6.44 and its 200 day moving average is $5.33. The firm has a market capitalization of $239.67 million, a PE ratio of -2.41 and a beta of 3.15. Foghorn Therapeutics has a twelve month low of $2.70 and a twelve month high of $9.97.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. The firm had revenue of $5.77 million for the quarter, compared to analyst estimates of $4.91 million. Equities analysts predict that Foghorn Therapeutics will post -2.05 earnings per share for the current fiscal year.

Institutional Trading of Foghorn Therapeutics

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in Foghorn Therapeutics by 7.8% during the first quarter. Raymond James & Associates now owns 2,230,456 shares of the company's stock valued at $14,966,000 after buying an additional 162,069 shares during the period. Birchview Capital LP increased its holdings in shares of Foghorn Therapeutics by 21.2% in the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company's stock valued at $2,070,000 after purchasing an additional 56,087 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Foghorn Therapeutics by 180.6% in the 4th quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company's stock valued at $626,000 after purchasing an additional 62,441 shares during the period. Alta Wealth Advisors LLC purchased a new stake in shares of Foghorn Therapeutics in the fourth quarter worth approximately $194,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Foghorn Therapeutics by 34.0% during the fourth 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 during the period. 61.55% of the stock is owned by institutional investors and hedge funds.

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.