Foghorn Therapeutics (NASDAQ:FHTX) Stock Rating Upgraded by Wall Street Zen

Foghorn Therapeutics (NASDAQ:FHTX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other research analysts also recently issued reports about the stock. Guggenheim assumed coverage on shares of Foghorn Therapeutics in a research report on Friday, November 7th. They set a “buy” rating and a $12.00 price objective on the stock. B. Riley began coverage on shares of Foghorn Therapeutics in a research note on Wednesday, September 17th. They set a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Foghorn Therapeutics in a research report on Wednesday, October 8th. Finally, Wedbush reissued an “outperform” rating and issued a $10.00 price target on shares of Foghorn Therapeutics in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Foghorn Therapeutics Stock Performance

NASDAQ FHTX opened at $4.73 on Friday. Foghorn Therapeutics has a fifty-two week low of $2.94 and a fifty-two week high of $8.44. The stock has a 50 day simple moving average of $4.47 and a two-hundred day simple moving average of $4.82. The stock has a market cap of $267.48 million, a P/E ratio of -4.19 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 business had revenue of $8.15 million for the quarter, compared to analysts’ expectations of $6.20 million. Sell-side analysts predict that Foghorn Therapeutics will post -1.55 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. increased its stake in shares of Foghorn Therapeutics by 4.0% in the 3rd quarter. Raymond James Financial Inc. now owns 2,462,488 shares of the company’s stock worth $12,042,000 after acquiring an additional 95,196 shares in the last quarter. Vanguard Group Inc. grew its holdings in Foghorn Therapeutics by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,899,457 shares of the company’s stock worth $9,288,000 after purchasing an additional 14,784 shares during the period. Geode Capital Management LLC increased its stake in shares of Foghorn Therapeutics by 16.9% during the second quarter. Geode Capital Management LLC now owns 807,674 shares of the company’s stock valued at $3,797,000 after purchasing an additional 116,979 shares in the last quarter. DAFNA Capital Management LLC increased its stake in shares of Foghorn Therapeutics by 63.2% during the first quarter. DAFNA Capital Management LLC now owns 304,752 shares of the company’s stock valued at $1,112,000 after purchasing an additional 118,035 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Foghorn Therapeutics by 8.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 241,816 shares of the company’s stock valued at $883,000 after purchasing an additional 18,036 shares during the last quarter. 61.55% of the stock is 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.