Foghorn Therapeutics Inc. (NASDAQ:FHTX) Receives $11.00 Consensus Target Price from Analysts

Foghorn Therapeutics Inc. (NASDAQ:FHTX) has been given a consensus rating of “Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.1250.

A number of equities research analysts recently weighed in on FHTX shares. Wall Street Zen lowered Foghorn Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. Wedbush reissued an “outperform” rating and set a $10.00 price target on shares of Foghorn Therapeutics in a research note on Thursday, November 6th. Guggenheim started coverage on Foghorn Therapeutics in a research note on Friday, November 7th. They issued a “buy” rating and a $12.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Foghorn Therapeutics in a report on Wednesday. They issued a “buy” rating and a $12.00 price objective for the company. Finally, B. Riley began coverage on shares of Foghorn Therapeutics in a report on Wednesday, September 17th. They set a “buy” rating and a $10.00 target price on the stock.

Institutional Trading of Foghorn Therapeutics

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

Foghorn Therapeutics Price Performance

Shares of NASDAQ:FHTX opened at $4.36 on Monday. Foghorn Therapeutics has a one year low of $2.94 and a one year high of $6.81. The company has a market cap of $246.56 million, a price-to-earnings ratio of -3.86 and a beta of 3.04. The firm has a 50 day simple moving average of $4.42 and a 200 day simple moving average of $4.82.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its 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 company had revenue of $8.15 million for the quarter, compared to the consensus estimate of $6.20 million. As a group, analysts expect that Foghorn Therapeutics will post -1.55 EPS for the current year.

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.