Foghorn Therapeutics (NASDAQ:FHTX) Now Covered by Analysts at BTIG Research

Equities research analysts at BTIG Research started coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating on the stock.

Several other brokerages have also issued reports on FHTX. Stifel Nicolaus initiated coverage on shares of Foghorn Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $12.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Foghorn Therapeutics in a report on Wednesday, October 8th. Wall Street Zen lowered Foghorn Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Guggenheim began coverage on Foghorn Therapeutics in a research report on Friday, November 7th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and set a $10.00 price target on shares of Foghorn Therapeutics in a research report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $10.75.

Foghorn Therapeutics Trading Up 7.8%

Shares of NASDAQ FHTX opened at $5.00 on Thursday. The business has a 50-day moving average of $4.40 and a 200-day moving average of $4.85. The firm has a market capitalization of $282.76 million, a price-to-earnings ratio of -4.42 and a beta of 3.04. Foghorn Therapeutics has a 12 month low of $2.94 and a 12 month high of $6.79.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its earnings results on Wednesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, analysts predict that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Hedge Funds Weigh In On Foghorn Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FHTX. Nuveen LLC bought a new stake in Foghorn Therapeutics in the first quarter valued at approximately $221,000. Raymond James Financial Inc. increased its stake in shares of Foghorn Therapeutics by 9.3% in the first quarter. Raymond James Financial Inc. now owns 2,218,352 shares of the company’s stock worth $8,097,000 after buying an additional 188,969 shares during the period. SCS Capital Management LLC bought a new stake in Foghorn Therapeutics during the 1st quarter valued at $390,000. Wellington Management Group LLP boosted its position in Foghorn Therapeutics by 18.2% during the 1st quarter. Wellington Management Group LLP now owns 102,888 shares of the company’s stock valued at $376,000 after buying an additional 15,819 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Foghorn Therapeutics by 70.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 27,099 shares of the company’s stock worth $127,000 after acquiring an additional 11,225 shares during the last quarter. 61.55% of the stock is currently owned by institutional investors.

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.