On March 28, 2023, B of A Securities initiated coverage of Foghorn Therapeutics with a Buy recommendation.
Analyst Price Forecast Suggests 254.32% Upside
As of March 29, 2023, the average one-year price target for Foghorn Therapeutics is $20.20. The forecasts range from a low of $13.13 to a high of $26.25. The average price target represents an increase of 254.32% from its latest reported closing price of $5.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Foghorn Therapeutics is $34MM, an increase of 76.78%. The projected annual non-GAAP EPS is -$2.55.
What are Large Shareholders Doing?
Flagship Pioneering holds 12,674K shares representing 30.32% ownership of the company. No change in the last quarter.
Artal Group holds 1,721K shares representing 4.12% ownership of the company. No change in the last quarter.
Euclidean Capital holds 1,261K shares representing 3.02% ownership of the company. No change in the last quarter.
FDGRX - Fidelity Growth Company Fund holds 963K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 996K shares, representing a decrease of 3.44%. The firm decreased its portfolio allocation in FHTX by 32.97% over the last quarter.
Deerfield Management Company, L.p. holds 778K shares representing 1.86% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 166 funds or institutions reporting positions in Foghorn Therapeutics. This is an increase of 1 owner(s) or 0.61% in the last quarter. Average portfolio weight of all funds dedicated to FHTX is 0.08%, a decrease of 14.88%. Total shares owned by institutions decreased in the last three months by 1.31% to 26,252K shares. The put/call ratio of FHTX is 0.13, indicating a bullish outlook.
Foghorn Therapeutics Background Information
(This description is provided by the company.)
Foghorn Therapeutics is pioneering the discovery and development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system, an untapped opportunity for therapeutic intervention. The Company's proprietary Gene Traffic Control® platform gives it an integrated, mechanistic understanding of how the various components of the chromatin regulatory system interact, allowing it to identify, validate and potentially drug targets within the system.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
