Morgan Stanley analyst Vikram Purohit lowered the firm’s price target on Foghorn Therapeutics (FHTX) to $4 from $9 and keeps an Equal Weight rating on the shares. The firm is removing the FHD-286 AML estimates from its model and establishing a base case range defined by cash value per share and risk-adjusted success for SMARCA2 inhibitor FHD-909, the analyst tells investors in a research note.
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