Foghorn Therapeutics (NASDAQ:FHTX) Now Covered by B. Riley

Stock analysts at B. Riley assumed coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 138.66% from the stock’s current price.

Several other analysts have also issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.17.

Foghorn Therapeutics Price Performance

Foghorn Therapeutics stock opened at $4.19 on Thursday. The firm has a market cap of $233.01 million, a price-to-earnings ratio of -2.18 and a beta of 3.21. The firm has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $6.92. Foghorn Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $10.25.

Institutional Trading of Foghorn Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Zacks Investment Management acquired a new stake in Foghorn Therapeutics in the third quarter worth $96,000. SG Americas Securities LLC acquired a new stake in Foghorn Therapeutics during the 3rd quarter worth $99,000. Renaissance Technologies LLC bought a new position in Foghorn Therapeutics during the second quarter worth about $62,000. XTX Topco Ltd acquired a new position in Foghorn Therapeutics in the third quarter valued at about $101,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Foghorn Therapeutics in the second quarter worth about $64,000. 61.55% of the stock is owned by 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.