Foghorn Therapeutics’ (FHTX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note released on Wednesday, Benzinga reports. They currently have a $20.00 price target on the stock.

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

Foghorn Therapeutics Price Performance

Shares of FHTX opened at $5.86 on Wednesday. Foghorn Therapeutics has a 52-week low of $2.70 and a 52-week high of $9.97. The stock’s 50-day simple moving average is $6.48 and its 200 day simple moving average is $5.26.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results 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 firm had revenue of $5.77 million during the quarter, compared to analysts’ expectations of $4.91 million. Sell-side analysts anticipate that Foghorn Therapeutics will post -2.05 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its holdings in shares of Foghorn Therapeutics by 788.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock worth $32,000 after acquiring an additional 4,437 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Foghorn Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after purchasing an additional 5,460 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Foghorn Therapeutics during the third quarter worth about $173,000. Alta Wealth Advisors LLC purchased a new position in shares of Foghorn Therapeutics in the 4th quarter worth about $194,000. Finally, Birchview Capital LP boosted its holdings in shares of Foghorn Therapeutics by 21.2% in the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after purchasing an additional 56,087 shares in 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.