Fintel reports that on June 29, 2023, Goldman Sachs maintained coverage of Foghorn Therapeutics (NASDAQ:FHTX) with a Buy recommendation.

Analyst Price Forecast Suggests 101.34% Upside

As of June 2, 2023, the average one-year price target for Foghorn Therapeutics is 16.49. The forecasts range from a low of 10.10 to a high of $22.05. The average price target represents an increase of 101.34% from its latest reported closing price of 8.19.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Foghorn Therapeutics is 34MM, an increase of 64.87%. The projected annual non-GAAP EPS is -2.55.

What is the Fund Sentiment?

There are 157 funds or institutions reporting positions in Foghorn Therapeutics. This is a decrease of 9 owner(s) or 5.42% in the last quarter. Average portfolio weight of all funds dedicated to FHTX is 0.07%, a decrease of 16.57%. Total shares owned by institutions increased in the last three months by 0.13% to 26,285K shares. The put/call ratio of FHTX is 0.13, indicating a bullish outlook.

What are Other Shareholders Doing?

Flagship Pioneering holds 12,674K shares representing 30.30% ownership of the company. No change in the last quarter.

Artal Group holds 1,721K shares representing 4.11% 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.

Raymond James & Associates holds 1,078K shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 545K shares, representing an increase of 49.45%. The firm increased its portfolio allocation in FHTX by 81.83% over the last quarter.

FDGRX – Fidelity Growth Company Fund holds 940K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 963K shares, representing a decrease of 2.41%. The firm decreased its portfolio allocation in FHTX by 14.89% over the last quarter.

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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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