Foghorn Therapeutics (NASDAQ:FHTX) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report report published on Thursday, MarketBeat Ratings reports. They currently have a $13.00 price target on the stock.

Separately, HC Wainwright reiterated a buy rating and issued a $20.00 target price on shares of Foghorn Therapeutics in a research note on Tuesday, May 7th.

Foghorn Therapeutics Price Performance

Shares of NASDAQ:FHTX traded up $0.01 during trading on Thursday, reaching $5.25. The stock had a trading volume of 96,642 shares, compared to its average volume of 126,108. Foghorn Therapeutics has a 52 week low of $2.70 and a 52 week high of $9.97. The business’s 50-day moving average price is $5.84 and its 200 day moving average price is $5.84. The stock has a market capitalization of $223.58 million, a PE ratio of -2.35 and a beta of 3.10.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its earnings results on Monday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.04). The firm had revenue of $5.05 million for the quarter, compared to the consensus estimate of $7.53 million. Analysts forecast that Foghorn Therapeutics will post -2.2 EPS for the current year.

Institutional Trading of Foghorn Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in Foghorn Therapeutics by 7.8% during the 1st quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock worth $14,966,000 after acquiring an additional 162,069 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Foghorn Therapeutics by 101.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock worth $1,451,000 after acquiring an additional 108,700 shares during the period. Vanguard Group Inc. grew its holdings in Foghorn Therapeutics by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 1,102,493 shares of the company’s stock worth $7,398,000 after acquiring an additional 77,380 shares during the period. Panagora Asset Management Inc. grew its holdings in Foghorn Therapeutics by 180.6% during the 4th quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock worth $626,000 after acquiring an additional 62,441 shares during the period. Finally, Birchview Capital LP grew its holdings in Foghorn Therapeutics by 21.2% during the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after acquiring an additional 56,087 shares during the period. Institutional investors and hedge funds 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.