Foghorn Therapeutics (NASDAQ:FHTX) Coverage Initiated by Analysts at B. Riley

Analysts at B. Riley started coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note issued to investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. B. Riley’s price target indicates a potential upside of 151.26% from the stock’s previous close.

Several other research firms also recently weighed in on FHTX. HC Wainwright reissued a “buy” rating and set a $13.00 price target (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. Jefferies Financial Group dropped their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.17.

Foghorn Therapeutics Stock Performance

Foghorn Therapeutics stock opened at $3.98 on Thursday. The stock has a fifty day moving average of $5.46 and a two-hundred day moving average of $6.95. The company has a market capitalization of $221.25 million, a price-to-earnings ratio of -2.07 and a beta of 3.21. Foghorn Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $10.25.

Institutional Investors Weigh In On Foghorn Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new position in Foghorn Therapeutics in the fourth quarter valued at $56,000. Renaissance Technologies LLC acquired a new position in Foghorn Therapeutics in the second quarter valued at $62,000. The Manufacturers Life Insurance Company acquired a new position in Foghorn Therapeutics in the second quarter valued at $64,000. Zacks Investment Management acquired a new position in Foghorn Therapeutics in the third quarter valued at $96,000. Finally, SG Americas Securities LLC acquired a new position in Foghorn Therapeutics in the third quarter valued at $99,000. Hedge funds and other 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.