In a report released yesterday, Chi Meng Fong from Bank of America Securities reiterated a Buy rating on Foghorn Therapeutics (FHTX – Research Report), with a price target of $11.00. The company’s shares closed yesterday at $8.60.
According to TipRanks, Meng Fong is a 2-star analyst with an average return of 7.0% and a 75.00% success rate.
Foghorn Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $16.00, an 86.05% upside from current levels. In a report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $19.00 price target.
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Based on Foghorn Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.31 million and a GAAP net loss of $30.5 million. In comparison, last year the company earned a revenue of $3.92 million and had a GAAP net loss of $26.91 million
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Foghorn Therapeutics Inc is engaged in discovery and development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system, an untapped opportunity for therapeutic intervention. Its proprietary Gene Traffic Control platform gives us 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. The company is developing FHD-286, a selective, allosteric ATPase inhibitor, and FHD-609, a protein degrader, to treat hematologic cancers and solid tumors.
Read More on FHTX:
- Foghorn Therapeutics Announces Clinical Data from Phase 1 Study of FHD-286 in Metastatic Uveal Melanoma
- Foghorn Therapeutics Announces Participation in Upcoming Investor Conferences
- Foghorn Soars after FDA Lifts Hold on Phase 1 Study of Lead Candidate
- Foghorn Therapeutics Provides First Quarter 2023 Financial and Corporate Update
