Foghorn Therapeutics Inc. (NASDAQ:FHTX) Receives $13.17 Consensus Price Target from Analysts

Foghorn Therapeutics Inc. (NASDAQ:FHTX) has earned an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.17.

A number of equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective (down from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. Jefferies Financial Group cut their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, B. Riley started coverage on Foghorn Therapeutics in a report on Thursday, January 30th. They set a “buy” rating and a $10.00 target price for the company.

Foghorn Therapeutics Stock Performance

NASDAQ:FHTX opened at $5.01 on Monday. Foghorn Therapeutics has a 52-week low of $3.86 and a 52-week high of $10.25. The firm has a market cap of $278.62 million, a price-to-earnings ratio of -2.61 and a beta of 3.19. The business’s fifty day moving average is $4.78 and its 200 day moving average is $6.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in Foghorn Therapeutics during the fourth quarter valued at $49,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Foghorn Therapeutics during the 4th quarter valued at about $51,000. China Universal Asset Management Co. Ltd. purchased a new position in Foghorn Therapeutics in the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets purchased a new stake in shares of Foghorn Therapeutics during the 4th quarter valued at approximately $61,000. Finally, Sherbrooke Park Advisers LLC increased its holdings in Foghorn Therapeutics by 22.2% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 15,617 shares of the company’s stock valued at $74,000 after purchasing an additional 2,841 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.