Foghorn Therapeutics (FHTX) – Investment Analysts’ Weekly Ratings Updates

Posted by on Jun 2nd, 2022

Several brokerages have updated their recommendations and price targets on shares of Foghorn Therapeutics (NASDAQ: FHTX) in the last few weeks:

  • 5/24/2022 – Foghorn Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Foghorn Therapeutics Inc. engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system. Foghorn Therapeutics Inc. is based in CAMBRIDGE, Mass. “
  • 5/24/2022 – Foghorn Therapeutics had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $30.00 to $21.00. They now have a “buy” rating on the stock.
  • 5/23/2022 – Foghorn Therapeutics had its price target lowered by analysts at Morgan Stanley from $26.00 to $25.00. They now have an “overweight” rating on the stock.
  • 5/20/2022 – Foghorn Therapeutics had its price target lowered by analysts at HC Wainwright from $25.00 to $18.00. They now have a “buy” rating on the stock.

Shares of FHTX traded down $0.29 during midday trading on Thursday, reaching $11.91. The company had a trading volume of 200,134 shares, compared to its average volume of 162,253. Foghorn Therapeutics Inc. has a 1-year low of $8.01 and a 1-year high of $24.34. The stock has a market cap of $493.88 million, a PE ratio of -4.32 and a beta of 3.08. The firm has a 50 day simple moving average of $13.05 and a 200-day simple moving average of $13.94.

Foghorn Therapeutics (NASDAQ:FHTX – Get Rating) last issued its earnings results on Thursday, March 10th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.03). Foghorn Therapeutics had a negative return on equity of 118.78% and a negative net margin of 2,124.94%. The company had revenue of $0.71 million during the quarter, compared to analyst estimates of $0.33 million. On average, sell-side analysts predict that Foghorn Therapeutics Inc. will post -2.35 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Foghorn Therapeutics by 102.3% in the 2nd quarter. Royal Bank of Canada now owns 2,588 shares of the company’s stock valued at $27,000 after acquiring an additional 1,309 shares in the last quarter. Bank of America Corp DE grew its position in Foghorn Therapeutics by 126.8% in the 2nd quarter. Bank of America Corp DE now owns 12,270 shares of the company’s stock valued at $131,000 after acquiring an additional 6,861 shares in the last quarter. Morgan Stanley grew its position in Foghorn Therapeutics by 149.0% in the 2nd quarter. Morgan Stanley now owns 980,209 shares of the company’s stock valued at $10,460,000 after acquiring an additional 586,487 shares in the last quarter. BlackRock Inc. grew its position in Foghorn Therapeutics by 2.4% in the 3rd quarter. BlackRock Inc. now owns 1,119,685 shares of the company’s stock valued at $15,597,000 after acquiring an additional 25,825 shares in the last quarter. Finally, Citigroup Inc. grew its position in Foghorn Therapeutics by 139.9% in the 3rd quarter. Citigroup Inc. now owns 2,231 shares of the company’s stock valued at $31,000 after acquiring an additional 1,301 shares in the last quarter. 66.92% of the stock is owned by hedge funds and other institutional investors.

Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.

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