Analyst Confidence Rises for Foghorn Therapeutics Following Leadership and Pipeline Updates

Market sentiment toward Foghorn Therapeutics Inc. has strengthened following a key interim appointment and a significant analyst initiation. The biotech firm has named an interim Chief Financial Officer as it continues its search for a permanent finance chief. Concurrently, investment bank Stifel has commenced coverage of the company's stock with a bullish "Buy" rating and a $12 price target, implying a potential upside of over 170% from recent trading levels.

The cornerstone of Stifel's optimistic assessment is Foghorn's lead drug candidate, FHD-909. This SMARCA2 inhibitor, developed in partnership with pharmaceutical giant Eli Lilly, is a focal point for future growth. Initial clinical data for the compound is anticipated in 2026, with Stifel forecasting a potential market launch by 2030. The analysts project the drug could achieve peak global sales of approximately $1.4 billion, with Foghorn positioned to capture around $500 million of that total.

Beyond this specific program, analysts have highlighted the value of the company's proprietary drug discovery platform. This technology is designed to selectively target frequently mutated cancer genes, forming a foundation for its broader research pipeline.

Should investors sell immediately? Or is it worth buying Foghorn Therapeutics Inc?

Broad Wall Street Consensus and Financial Runway

Stifel's positive stance aligns with a broader consensus among market researchers. Over the past twelve months, nine analysts have issued ratings on Foghorn, culminating in a consensus "Buy" recommendation. The average price targets from these firms cluster between $11.13 and $11.75, with some individual targets reaching as high as $14 per share. The stock last closed at a price of $4.36.

Financially, the company is estimated to have sufficient capital to fund its operations into 2028. This runway is expected to carry Foghorn past several critical clinical milestones for both FHD-909 and its platform technology. For investors, the next significant catalyst is expected to be clinical data for FHD-909, anticipated next year.