Analysts Set Foghorn Therapeutics Inc. (NASDAQ:FHTX) Price Target at $13.17

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) have received a consensus recommendation of “Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.17.

Several equities research analysts have weighed in on FHTX shares. B. Riley started coverage on Foghorn Therapeutics in a report on Thursday, January 30th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. Finally, Jefferies Financial Group dropped their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Monday, December 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Foghorn Therapeutics in the 4th quarter valued at approximately $75,000. Rhumbline Advisers lifted its stake in shares of Foghorn Therapeutics by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock valued at $172,000 after purchasing an additional 3,049 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in shares of Foghorn Therapeutics in the 4th quarter valued at approximately $134,000. China Universal Asset Management Co. Ltd. bought a new position in Foghorn Therapeutics during the 4th quarter valued at approximately $56,000. Finally, Barclays PLC increased its position in Foghorn Therapeutics by 191.6% during the 3rd quarter. Barclays PLC now owns 39,920 shares of the company’s stock valued at $371,000 after buying an additional 26,228 shares in the last quarter. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Price Performance

Shares of FHTX stock opened at $4.37 on Thursday. Foghorn Therapeutics has a 1-year low of $2.81 and a 1-year high of $10.25. The business has a 50-day moving average of $5.10 and a 200 day moving average of $6.88. The stock has a market capitalization of $243.02 million, a PE ratio of -2.28 and a beta of 3.19.

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.