Foghorn Therapeutics (NASDAQ:FHTX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Foghorn Therapeutics (NASDAQ:FHTX – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Foghorn Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.43.

View Our Latest Stock Analysis on FHTX

Foghorn Therapeutics Stock Performance

NASDAQ FHTX opened at $6.24 on Friday. The firm has a market capitalization of $370.53 million, a price-to-earnings ratio of -6.37 and a beta of 2.89. Foghorn Therapeutics has a one year low of $3.27 and a one year high of $6.95. The company’s 50 day moving average price is $4.77 and its 200 day moving average price is $4.96.

Foghorn Therapeutics (NASDAQ:FHTX – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.14. The business had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $6.80 million. Sell-side analysts forecast that Foghorn Therapeutics will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FHTX. Deutsche Bank AG lifted its position in shares of Foghorn Therapeutics by 7.3% during the fourth quarter. Deutsche Bank AG now owns 27,421 shares of the company’s stock worth $148,000 after purchasing an additional 1,861 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Foghorn Therapeutics by 48.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,103 shares of the company’s stock valued at $35,000 after purchasing an additional 2,305 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Foghorn Therapeutics by 16.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,723 shares of the company’s stock worth $88,000 after buying an additional 2,597 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Foghorn Therapeutics by 18.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,908 shares of the company’s stock worth $84,000 after buying an additional 2,812 shares during the period. Finally, Strs Ohio increased its stake in Foghorn Therapeutics by 120.5% during the 4th quarter. Strs Ohio now owns 8,600 shares of the company’s stock worth $46,000 after buying an additional 4,700 shares during the period. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Company Profile

(Get Free Report)

Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.

The company’s lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.

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