HC Wainwright Reiterates Buy Rating for Foghorn Therapeutics (NASDAQ:FHTX)

Foghorn Therapeutics (NASDAQ:FHTXGet Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $20.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 227.33% from the stock’s previous close.

Separately, Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Foghorn Therapeutics in a research report on Wednesday, April 10th.

Get Our Latest Research Report on Foghorn Therapeutics

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX opened at $6.11 on Wednesday. Foghorn Therapeutics has a twelve month low of $2.70 and a twelve month high of $9.97. The firm has a 50-day moving average of $6.48 and a two-hundred day moving average of $5.26.

Foghorn Therapeutics (NASDAQ:FHTXGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. The company had revenue of $5.77 million for the quarter, compared to analyst estimates of $4.91 million. Equities analysts predict that Foghorn Therapeutics will post -2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in Foghorn Therapeutics by 7.8% in the 1st quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock valued at $14,966,000 after buying an additional 162,069 shares during the last quarter. Birchview Capital LP increased its holdings in shares of Foghorn Therapeutics by 21.2% during the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after acquiring an additional 56,087 shares during the last quarter. Alta Wealth Advisors LLC acquired a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $194,000. Panagora Asset Management Inc. boosted its stake in Foghorn Therapeutics by 180.6% in the 4th quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock valued at $626,000 after purchasing an additional 62,441 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Foghorn Therapeutics by 788.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $32,000 after acquiring an additional 4,437 shares during the period. Institutional investors own 61.55% of the company’s stock.

About Foghorn Therapeutics

(Get Free Report)

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.

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