Foghorn Therapeutics price target lowered to $13 from $20 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Foghorn Therapeutics (FHTX) to $13 from $20 and keeps a Buy rating on the shares after the company announced the discontinuation of its independent development of FHD-286 in combination with decitabine for patients with relapsed and/or refractory acute myeloid leukemia. The firm is still believers in the BAF targeting thesis and sees Foghorns FHD-909 “as being able to still de-risk the strategy.”