Jefferies Financial Group Cuts Foghorn Therapeutics (NASDAQ:FHTX) Price Target to $14.00

Foghorn Therapeutics (NASDAQ:FHTX) had its target price trimmed by Jefferies Financial Group from $18.00 to $14.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the company. Evercore ISI started coverage on Foghorn Therapeutics in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price on the stock. Morgan Stanley upped their price objective on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.80.

Foghorn Therapeutics Stock Performance

FHTX stock opened at $4.91 on Monday. The stock’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.17. The company has a market cap of $272.96 million, a P/E ratio of -2.56 and a beta of 3.10. Foghorn Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $10.25.

Insider Activity at Foghorn Therapeutics

In other Foghorn Therapeutics news, insider Carlos Costa sold 35,756 shares of Foghorn Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.04, for a total transaction of $358,990.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Foghorn Therapeutics

Several institutional investors have recently modified their holdings of FHTX. Barclays PLC boosted its position in Foghorn Therapeutics by 191.6% in the third quarter. Barclays PLC now owns 39,920 shares of the company’s stock worth $371,000 after purchasing an additional 26,228 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Foghorn Therapeutics by 27.5% in the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after buying an additional 146,276 shares during the last quarter. XTX Topco Ltd bought a new position in Foghorn Therapeutics during the third quarter valued at about $101,000. Zacks Investment Management purchased a new stake in Foghorn Therapeutics during the third quarter worth about $96,000. Finally, Wellington Management Group LLP increased its holdings in Foghorn Therapeutics by 64.9% during the third quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock worth $672,000 after buying an additional 28,427 shares during the last quarter. 61.55% of the stock is owned by institutional investors.

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.