Morgan Stanley Maintains Equal-Weight on Foghorn Therapeutics, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Vikram Purohit has maintained an Equal-Weight rating on Foghorn Therapeutics (NASDAQ:FHTX) but reduced the price target from $10 to $6.
November 13, 2023 | 2:08 pm
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NEGATIVE IMPACT
Morgan Stanley has maintained an Equal-Weight rating on Foghorn Therapeutics but lowered the price target from $10 to $6, indicating a potential downside compared to the previous target.
The reduction in price target by a major analyst like Morgan Stanley suggests that they see less growth potential or higher risks for Foghorn Therapeutics. This could lead to a negative investor sentiment and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100