Foghorn Therapeutics (NASDAQ:FHTX) Given New $14.00 Price Target at Jefferies Financial Group

Foghorn Therapeutics (NASDAQ:FHTX) had its price objective trimmed by Jefferies Financial Group from $18.00 to $14.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, September 24th. Evercore ISI began coverage on shares of Foghorn Therapeutics in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Foghorn Therapeutics Trading Up 4.0 %

Shares of FHTX stock opened at $5.51 on Monday. The stock has a market capitalization of $306.32 million, a P/E ratio of -2.87 and a beta of 3.10. The firm’s 50 day moving average is $7.68 and its 200 day moving average is $7.19. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $10.25.

Insider Activity

In other Foghorn Therapeutics news, insider Carlos Costa sold 35,756 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.04, for a total transaction of $358,990.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.07% of the company’s stock.

Institutional Investors Weigh In On Foghorn Therapeutics

Institutional investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new position in Foghorn Therapeutics during the 2nd quarter valued at $14,481,000. Perceptive Advisors LLC purchased a new stake in shares of Foghorn Therapeutics during the second quarter valued at $3,128,000. Driehaus Capital Management LLC grew its holdings in shares of Foghorn Therapeutics by 102.7% in the second quarter. Driehaus Capital Management LLC now owns 568,470 shares of the company’s stock worth $3,269,000 after purchasing an additional 288,088 shares during the last quarter. Geode Capital Management LLC increased its stake in Foghorn Therapeutics by 27.5% in the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after buying an additional 146,276 shares during the period. Finally, Raymond James & Associates increased its stake in Foghorn Therapeutics by 4.8% in the 2nd quarter. Raymond James & Associates now owns 2,338,423 shares of the company’s stock worth $13,446,000 after buying an additional 107,967 shares during the period. Institutional investors own 61.55% of the company’s stock.

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.