HC Wainwright Reaffirms Buy Rating for Foghorn Therapeutics (NASDAQ:FHTX)

HC Wainwright reissued their buy rating on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $20.00 target price on the stock.

Separately, Wedbush reaffirmed an outperform rating and set a $13.00 price target on shares of Foghorn Therapeutics in a report on Wednesday, April 10th.

Foghorn Therapeutics Trading Down 2.0 %

FHTX stock opened at $5.99 on Wednesday. The stock has a market capitalization of $254.99 million, a PE ratio of -2.56 and a beta of 3.15. The stock’s 50 day simple moving average is $6.48 and its 200 day simple moving average is $5.28. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $9.97.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The business had revenue of $5.77 million for the quarter, compared to the consensus estimate of $4.91 million. On average, research analysts predict that Foghorn Therapeutics will post -2.05 earnings per share for the current year.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Foghorn Therapeutics by 788.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $32,000 after purchasing an additional 4,437 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Foghorn Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after buying an additional 5,460 shares during the last quarter. Alta Wealth Advisors LLC bought a new position in Foghorn Therapeutics in the fourth quarter worth approximately $194,000. Panagora Asset Management Inc. purchased a new position in shares of Foghorn Therapeutics during the 3rd quarter worth $173,000. Finally, Birchview Capital LP grew its position in shares of Foghorn Therapeutics by 21.2% during the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock valued at $2,070,000 after acquiring an additional 56,087 shares during the period. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

About Foghorn Therapeutics

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.