JMP Securities Reiterates Market Outperform Rating for Foghorn Therapeutics (NASDAQ:FHTX)

Foghorn Therapeutics (NASDAQ:FHTX)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $9.00 price objective on the stock. JMP Securities’ price target indicates a potential upside of 103.16% from the company’s previous close.

A number of other research firms also recently weighed in on FHTX. Citizens Jmp started coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $9.00 target price for the company. Citigroup started coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an “outperform” rating for the company. B. Riley began coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They set a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Foghorn Therapeutics presently has a consensus rating of “Buy” and an average price target of $12.13.

Foghorn Therapeutics Stock Up 2.8%

FHTX stock opened at $4.43 on Thursday. Foghorn Therapeutics has a 52 week low of $2.94 and a 52 week high of $10.25. The business has a 50-day simple moving average of $3.98 and a 200 day simple moving average of $5.18. The company has a market cap of $246.84 million, a PE ratio of -2.31 and a beta of 3.13.

Foghorn Therapeutics (NASDAQ:FHTX) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, hitting the consensus estimate of ($0.30). The firm had revenue of $5.95 million for the quarter, compared to the consensus estimate of $4.96 million. On average, analysts anticipate that Foghorn Therapeutics will post -1.55 EPS for the current fiscal year.

Institutional Trading of Foghorn Therapeutics

Large investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in Foghorn Therapeutics during the 4th quarter valued at $49,000. Cubist Systematic Strategies LLC bought a new position in shares of Foghorn Therapeutics in the fourth quarter valued at $51,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Foghorn Therapeutics in the fourth quarter valued at $56,000. BNP Paribas Financial Markets bought a new position in shares of Foghorn Therapeutics in the fourth quarter valued at $61,000. Finally, AQR Capital Management LLC bought a new position in shares of Foghorn Therapeutics in the first quarter valued at $68,000. Institutional investors and hedge funds 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.