Citizens JMP has initiated coverage of Foghorn Therapeutics (FHTX, Financial), assigning it an Outperform rating coupled with a $9 price target. Foghorn Therapeutics, a clinical-stage biotechnology firm, is engaged in developing innovative cancer therapies by focusing on key aspects of the chromatin regulatory system.
The analyst notes that Foghorn is currently trading at its cash value, presenting what is seen as a strategic opportunity to invest in a technology-driven pharma company at a lower cost. As a pioneer in the field of chromatin remodeling biology, Foghorn Therapeutics has crafted a unique Gene Traffic Control platform. This platform plays a critical role in identifying and validating genetically determined dependencies, offering significant potential in their therapeutic developments.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Foghorn Therapeutics Inc (FHTX, Financial) is $11.50 with a high estimate of $18.00 and a low estimate of $4.00. The average target implies an upside of 171.23% from the current price of $4.24. More detailed estimate data can be found on the Foghorn Therapeutics Inc (FHTX) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Foghorn Therapeutics Inc's (FHTX, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Foghorn Therapeutics Inc (FHTX, Financial) in one year is $5.73, suggesting a upside of 35.14% from the current price of $4.24. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Foghorn Therapeutics Inc (FHTX) Summary page.
