Promising Advancements and Strategic Collaborations Drive Buy Rating for Foghorn Therapeutics

TD Cowen analyst Yaron Werber has maintained their bullish stance on FHTX stock, giving a Buy rating today.

Yaron Werber’s rating is based on the promising advancements and strategic collaborations Foghorn Therapeutics is making in its drug development pipeline. The company is progressing with its FHD-909 program, which is in a Phase 1 trial targeting SMARCA4-mutated non-small cell lung cancer (NSCLC). The initial data from this trial is anticipated around late 2025 to early 2026, and the drug has shown synergistic benefits when combined with Keytruda, a significant point of interest for investors.
Additionally, Foghorn is working on selective CBP and EP300 degraders, with investigational new drug applications expected in 2026. The preclinical data for these programs have been promising, demonstrating significant tumor growth inhibition without adverse side effects. With a strong cash position of $221 million, the company is well-positioned to continue its research and development efforts into 2027, supporting Werber’s optimistic outlook and Buy rating.

In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $13.00 price target.