Analysts Set Foghorn Therapeutics Inc. (NASDAQ:FHTX) Price Target at $13.17

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) have earned an average rating of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.17.

A number of equities analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a research report on Friday, March 7th. B. Riley initiated coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Jefferies Financial Group lowered their target price on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, December 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FHTX. Zacks Investment Management bought a new stake in shares of Foghorn Therapeutics during the 3rd quarter valued at $96,000. Lazard Asset Management LLC purchased a new position in shares of Foghorn Therapeutics during the fourth quarter worth about $49,000. Cubist Systematic Strategies LLC purchased a new position in Foghorn Therapeutics in the 4th quarter worth approximately $51,000. XTX Topco Ltd purchased a new stake in shares of Foghorn Therapeutics during the 3rd quarter valued at $101,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Foghorn Therapeutics during the 4th quarter worth $56,000. Institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Stock Performance

Shares of FHTX opened at $3.97 on Friday. The firm has a market capitalization of $220.78 million, a PE ratio of -2.07 and a beta of 3.13. Foghorn Therapeutics has a 52-week low of $3.86 and a 52-week high of $10.25. The stock has a 50 day simple moving average of $4.66 and a 200 day simple moving average of $6.40.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.13. The firm had revenue of $2.86 million during the quarter, compared to the consensus estimate of $8.56 million. Equities research analysts predict that Foghorn Therapeutics will post -1.55 EPS for the current fiscal year.

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.