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

Analysts at Guggenheim assumed coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a note issued to investors on Friday. The firm set a “buy” rating and a $12.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 200.00% from the stock’s current price.

A number of other research firms have also recently weighed in on FHTX. B. Riley initiated coverage on Foghorn Therapeutics in a research report on Wednesday, September 17th. They set a “buy” rating and a $10.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $10.00 target price on shares of Foghorn Therapeutics in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Foghorn Therapeutics in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Foghorn Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Foghorn Therapeutics Price Performance

Shares of FHTX opened at $4.00 on Friday. Foghorn Therapeutics has a 52 week low of $2.94 and a 52 week high of $9.70. The business’s 50 day moving average price is $4.65 and its 200-day moving average price is $4.77. The stock has a market cap of $226.12 million, a P/E ratio of -3.54 and a beta of 3.02.

Foghorn Therapeutics (NASDAQ:FHTX) last posted 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, equities analysts anticipate that Foghorn Therapeutics will post -1.55 EPS for the current year.

Institutional Trading of Foghorn Therapeutics

Several hedge funds have recently made changes to their positions in FHTX. ProShare Advisors LLC purchased a new position in Foghorn Therapeutics in the third quarter worth about $74,000. Alta Wealth Advisors LLC purchased a new position in shares of Foghorn Therapeutics in the 3rd quarter worth approximately $49,000. Tower Research Capital LLC TRC increased its position in shares of Foghorn Therapeutics by 136.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company’s stock valued at $43,000 after purchasing an additional 5,323 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Foghorn Therapeutics by 63.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 64,100 shares of the company’s stock valued at $301,000 after buying an additional 25,000 shares during the period. Finally, Bank of America Corp DE lifted its position in Foghorn Therapeutics by 31.3% in the second quarter. Bank of America Corp DE now owns 31,297 shares of the company’s stock worth $147,000 after buying an additional 7,462 shares during the last quarter. 61.55% of the stock is currently owned by hedge funds and other 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.