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Buy Rating for Foghorn Therapeutics: Promising Potential of Lead Candidate FHD-909 in Targeting SMARCA4-Mutated Cancers

Buy Rating for Foghorn Therapeutics: Promising Potential of Lead Candidate FHD-909 in Targeting SMARCA4-Mutated Cancers

In a report released today, Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Foghorn Therapeutics, with a price target of $13.00.

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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight the potential of Foghorn Therapeutics’ lead candidate, FHD-909. This selective SMARCA2 inhibitor is showing promise in targeting SMARCA4-mutated cancers, which include a significant portion of NSCLC and other solid tumors. The ongoing Phase 1 trial is progressing well, focusing on sites with high NSCLC volume, and the trial design is tailored to address the unique challenges posed by SMARCA4 mutations.
Furthermore, FHD-909’s preclinical data demonstrate strong selectivity and efficacy, with significant tumor regression observed in various models. The compound also shows potential in combination therapies, enhancing its antitumor activity when used with existing treatments like pembrolizumab and KRAS inhibitors. This multi-pronged approach, along with Foghorn’s investment in other innovative programs, positions FHD-909 as a first-in-class agent with broad application potential, justifying the Buy rating and a price target of $13.

Y. Maldonado covers the Healthcare sector, focusing on stocks such as Merus, ImmunityBio, and I-MAB. According to TipRanks, Y. Maldonado has an average return of 3.4% and a 41.53% success rate on recommended stocks.

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