Foghorn Therapeutics (NASDAQ:FHTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $20.00 target price on the stock.

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

Foghorn Therapeutics Stock Performance

Shares of FHTX stock opened at $5.63 on Tuesday. Foghorn Therapeutics has a 52-week low of $2.70 and a 52-week high of $9.97. The company has a market capitalization of $239.67 million, a PE ratio of -2.41 and a beta of 3.15. The business’s fifty day moving average is $6.44 and its 200 day moving average is $5.33.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Foghorn Therapeutics by 788.1% in the fourth 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 last quarter. Exchange Traded Concepts LLC increased its stake in Foghorn Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after acquiring an additional 5,460 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Foghorn Therapeutics in the third quarter valued at $173,000. Alta Wealth Advisors LLC bought a new position in shares of Foghorn Therapeutics during the fourth quarter valued at about $194,000. Finally, Birchview Capital LP grew its stake in shares of Foghorn Therapeutics by 21.2% during the fourth quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock valued at $2,070,000 after buying an additional 56,087 shares during the last quarter. 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.