Foghorn Therapeutics (NASDAQ:FHTX) Cut to “Hold” at Wall Street Zen

Foghorn Therapeutics (NASDAQ:FHTX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

FHTX has been the subject of several other research reports. B. Riley assumed coverage on Foghorn Therapeutics in a research report on Wednesday, September 17th. They set a “buy” rating and a $10.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Foghorn Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $12.00 price target for the company. Guggenheim initiated coverage on shares of Foghorn Therapeutics in a report on Friday, November 7th. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Foghorn Therapeutics in a research note on Wednesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and set a $10.00 price objective on shares of Foghorn Therapeutics in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.13.

Foghorn Therapeutics Price Performance

FHTX stock opened at $4.36 on Friday. The company’s 50-day moving average is $4.42 and its 200-day moving average is $4.82. The stock has a market capitalization of $246.56 million, a PE ratio of -3.86 and a beta of 3.04. Foghorn Therapeutics has a 1 year low of $2.94 and a 1 year high of $6.81.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its earnings results on Wednesday, November 5th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $8.15 million during the quarter, compared to the consensus estimate of $6.20 million. On average, analysts anticipate that Foghorn Therapeutics will post -1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Foghorn Therapeutics

Several large investors have recently made changes to their positions in FHTX. Raymond James Financial Inc. raised its stake in shares of Foghorn Therapeutics by 4.0% during the 3rd quarter. Raymond James Financial Inc. now owns 2,462,488 shares of the company’s stock worth $12,042,000 after purchasing an additional 95,196 shares during the period. Vanguard Group Inc. increased its holdings in Foghorn Therapeutics by 0.8% during the third quarter. Vanguard Group Inc. now owns 1,899,457 shares of the company’s stock worth $9,288,000 after buying an additional 14,784 shares during the last quarter. Geode Capital Management LLC increased its holdings in Foghorn Therapeutics by 16.9% during the second quarter. Geode Capital Management LLC now owns 807,674 shares of the company’s stock worth $3,797,000 after buying an additional 116,979 shares during the last quarter. DAFNA Capital Management LLC raised its position in Foghorn Therapeutics by 63.2% in the first quarter. DAFNA Capital Management LLC now owns 304,752 shares of the company’s stock worth $1,112,000 after acquiring an additional 118,035 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Foghorn Therapeutics by 8.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 241,816 shares of the company’s stock valued at $883,000 after acquiring 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.