Foghorn Therapeutics (NASDAQ:FHTX) Coverage Initiated by Analysts at JMP Securities

Equities research analysts at JMP Securities assumed coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report issued on Wednesday,Benzinga reports. The brokerage set a “market outperform” rating and a $9.00 price target on the stock. JMP Securities’ target price points to a potential upside of 101.34% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Foghorn Therapeutics in a report on Friday, March 7th. B. Riley assumed coverage on shares of Foghorn Therapeutics in a report on Thursday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $12.13.

Foghorn Therapeutics Trading Down 4.5 %

FHTX opened at $4.47 on Wednesday. The company has a 50 day moving average of $4.19 and a 200 day moving average of $5.55. Foghorn Therapeutics has a 12 month low of $2.94 and a 12 month high of $10.25. The company has a market cap of $248.59 million, a PE ratio of -2.33 and a beta of 3.16.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.13. The company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $8.56 million. Research analysts forecast that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Institutional Trading of Foghorn Therapeutics

A number of hedge funds have recently made changes to their positions in FHTX. Hsbc Holdings PLC raised its position in Foghorn Therapeutics by 12.4% during the fourth quarter. Hsbc Holdings PLC now owns 18,728 shares of the company’s stock valued at $88,000 after purchasing an additional 2,061 shares in the last quarter. Sherbrooke Park Advisers LLC increased its position in shares of Foghorn Therapeutics by 22.2% during 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. Northern Trust Corp raised its holdings in shares of Foghorn Therapeutics by 1.1% during the 4th quarter. Northern Trust Corp now owns 253,671 shares of the company’s stock valued at $1,197,000 after buying an additional 2,873 shares in the last quarter. Rhumbline Advisers lifted its position in Foghorn Therapeutics by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock worth $172,000 after buying an additional 3,049 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Foghorn Therapeutics by 33.3% in the fourth quarter. Wells Fargo & Company MN now owns 15,841 shares of the company’s stock worth $75,000 after buying an additional 3,958 shares in the last quarter. 61.55% of the stock is 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.