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

HC Wainwright reissued their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note released on Wednesday, Benzinga reports. They currently have a $20.00 target price on the stock.

Separately, Wedbush reiterated an outperform rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a research note on Wednesday, April 10th.

Foghorn Therapeutics Stock Down 2.0 %

Shares of FHTX stock opened at $5.99 on Wednesday. The stock has a market cap of $254.99 million, a price-to-earnings ratio of -2.78 and a beta of 3.15. Foghorn Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $9.97. The firm’s 50 day moving average price is $6.48 and its two-hundred day moving average price is $5.27.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The business had revenue of $5.77 million for the quarter, compared to analyst estimates of $4.91 million. On average, equities analysts forecast that Foghorn Therapeutics will post -2.05 EPS for the current fiscal year.

Institutional Trading of Foghorn Therapeutics

A number of hedge funds have recently made changes to their positions in FHTX. Raymond James & Associates increased its stake in shares of Foghorn Therapeutics by 7.8% in the first quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock worth $14,966,000 after buying an additional 162,069 shares during the last quarter. Birchview Capital LP increased its stake in shares of Foghorn Therapeutics by 21.2% in the fourth quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after buying an additional 56,087 shares during the last quarter. Alta Wealth Advisors LLC bought a new stake in shares of Foghorn Therapeutics in the fourth quarter worth $194,000. Panagora Asset Management Inc. increased its stake in shares of Foghorn Therapeutics by 180.6% in the fourth quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock worth $626,000 after buying an additional 62,441 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Foghorn Therapeutics by 788.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock worth $32,000 after buying an additional 4,437 shares during the last quarter. Hedge funds and other institutional investors own 61.55% of the company’s stock.

About Foghorn Therapeutics

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.