Foghorn Therapeutics (NASDAQ:FHTX) Upgraded at B. Riley

Foghorn Therapeutics (NASDAQ:FHTX) was upgraded by equities researchers at B. Riley to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. HC Wainwright restated a “buy” rating and issued a $13.00 target price (down from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their target price on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Foghorn Therapeutics presently has a consensus rating of “Buy” and an average target price of $13.17.

Foghorn Therapeutics Price Performance

Shares of NASDAQ:FHTX opened at $4.34 on Wednesday. The company has a market cap of $241.35 million, a price-to-earnings ratio of -2.26 and a beta of 3.21. Foghorn Therapeutics has a one year low of $2.70 and a one year high of $10.25. The firm has a fifty day moving average price of $5.39 and a two-hundred day moving average price of $6.93.

Institutional Trading of Foghorn Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zacks Investment Management purchased a new position in shares of Foghorn Therapeutics during the third quarter worth approximately $96,000. SG Americas Securities LLC bought a new stake in Foghorn Therapeutics in the third quarter worth $99,000. Renaissance Technologies LLC purchased a new stake in Foghorn Therapeutics during the second quarter valued at about $62,000. XTX Topco Ltd bought a new position in shares of Foghorn Therapeutics during the third quarter valued at about $101,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Foghorn Therapeutics in the second quarter worth about $64,000. Hedge funds and other institutional investors own 61.55% of the company’s stock.

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.