Foghorn Therapeutics Inc. (NASDAQ:FHTX) Receives $11.00 Average PT from Analysts

by · The Cerbat Gem

Foghorn Therapeutics Inc. (NASDAQ:FHTX – Get Free Report) has earned a consensus rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.1250.

FHTX has been the topic of several research analyst reports. B. Riley started coverage on Foghorn Therapeutics in a research report on Wednesday, September 17th. They set a “buy” rating and a $10.00 target price on the stock. Guggenheim initiated coverage on Foghorn Therapeutics in a report on Friday, November 7th. They set a “buy” rating and a $12.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Foghorn Therapeutics in a research report on Thursday, November 6th. Stifel Nicolaus set a $12.00 price objective on shares of Foghorn Therapeutics in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Foghorn Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, November 28th.

View Our Latest Analysis on Foghorn Therapeutics

Foghorn Therapeutics Stock Up 3.5%

Shares of NASDAQ FHTX opened at $4.44 on Monday. The company has a market capitalization of $251.09 million, a PE ratio of -3.93 and a beta of 3.04. Foghorn Therapeutics has a twelve month low of $2.94 and a twelve month high of $7.80. The firm has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $4.82.

Foghorn Therapeutics (NASDAQ:FHTX – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The business had revenue of $8.15 million for the quarter, compared to analyst estimates of $6.20 million. As a group, equities analysts expect that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in shares of Foghorn Therapeutics by 13,755.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,542 shares of the company’s stock valued at $27,000 after buying an additional 5,502 shares during the period. Evelyn Partners Asset Management Ltd bought a new position in Foghorn Therapeutics in the second quarter worth approximately $33,000. BNP Paribas Financial Markets grew its stake in Foghorn Therapeutics by 48.0% in the third quarter. BNP Paribas Financial Markets now owns 7,103 shares of the company’s stock valued at $35,000 after acquiring an additional 2,305 shares during the period. Tower Research Capital LLC TRC grew its stake in Foghorn Therapeutics by 136.8% in the second quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company’s stock valued at $43,000 after acquiring an additional 5,323 shares during the period. Finally, Alta Wealth Advisors LLC bought a new stake in shares of Foghorn Therapeutics during the third quarter valued at approximately $49,000. Institutional investors own 61.55% of the company’s stock.

About Foghorn Therapeutics

(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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