{
  "id": 14144355,
  "title": "Evercore ISI cuts Foghorn Therapeutics stock rating on trial failure",
  "url": "https://urgent.news/2026/10/13/evercore-isi-cuts-foghorn-therapeutics-stock-rating-on-trial-failure",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T07:24:55.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/evercore-isi-cuts-foghorn-therapeutics-stock-rating-on-trial-failure-93CH-4945624"
  },
  "original_language": "en",
  "account": "Evercore ISI reduced Foghorn Therapeutics' stock rating to \"In Line\" from \"Outperform\" and lowered its price target to $3.00 from $14.00 due to the discontinuation of the company's lead clinical program. The stock is currently trading at $1.95 with a market cap of $115.8 million, a 64% decline year-to-date. Foghorn Therapeutics and Eli Lilly decided not to advance the program following the failure of FHD-909 to meet efficacy goals, despite positive safety profiles. Both FHD-909 and a separate SMARCA2 degrader are being discontinued. Evercore ISI expects challenges for ARID, another BAF complex subunit. The firm updated its model, removing FHD-909, reducing operating expenses, and retaining $150 million as remaining pipeline value. The company is projected to have approximately $131 million in net cash by year-end 2026. With the lead clinical opportunity gone and future programs in early stages, Evercore ISI believes pipeline optionality remains, but will necessitate a revised investment strategy.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Mineralys Therapeutics CEO Jon Congleton sells $1.9m MLYS stock",
        "url": "https://urgent.news/2026/10/13/mineralys-therapeutics-ceo-jon-congleton-sells-1-9m-mlys-stock",
        "published": "2026-10-13T04:01:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}