Analysts Expect Foghorn Therapeutics Inc. (NASDAQ:FHTX) Will Announce Quarterly Sales of $14.40 Million

Brokerages expect Foghorn Therapeutics Inc. (NASDAQ:FHTXGet Rating) to report sales of $14.40 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Foghorn Therapeutics’ earnings, with estimates ranging from $10.00 million to $18.80 million. Foghorn Therapeutics posted sales of $290,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 4,865.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Foghorn Therapeutics will report full-year sales of $58.33 million for the current year, with estimates ranging from $40.00 million to $75.00 million. For the next financial year, analysts forecast that the company will report sales of $58.60 million, with estimates ranging from $40.80 million to $75.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Foghorn Therapeutics.

Foghorn Therapeutics (NASDAQ:FHTXGet Rating) last issued its quarterly earnings results on Thursday, March 10th. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.03). Foghorn Therapeutics had a negative return on equity of 99.53% and a negative net margin of 7,681.58%. The firm had revenue of $0.71 million for the quarter, compared to the consensus estimate of $0.33 million.

FHTX has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of Foghorn Therapeutics in a report on Thursday, March 17th. Zacks Investment Research downgraded shares of Foghorn Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, March 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Foghorn Therapeutics in a research note on Friday, March 11th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. WASHINGTON TRUST Co acquired a new position in Foghorn Therapeutics in the 4th quarter valued at approximately $34,000. Citigroup Inc. increased its position in shares of Foghorn Therapeutics by 139.9% during the third quarter. Citigroup Inc. now owns 2,231 shares of the company’s stock worth $31,000 after buying an additional 1,301 shares during the period. Royal Bank of Canada increased its position in shares of Foghorn Therapeutics by 102.3% during the second quarter. Royal Bank of Canada now owns 2,588 shares of the company’s stock worth $27,000 after buying an additional 1,309 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of Foghorn Therapeutics during the third quarter worth $92,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Foghorn Therapeutics during the fourth quarter worth $234,000. Hedge funds and other institutional investors own 74.15% of the company’s stock.

Shares of Foghorn Therapeutics stock opened at $13.29 on Thursday. The company has a 50 day moving average of $12.72 and a 200-day moving average of $14.23. Foghorn Therapeutics has a 1-year low of $8.01 and a 1-year high of $24.34. The company has a market cap of $550.50 million, a PE ratio of -4.87 and a beta of 3.35.

Foghorn Therapeutics Company Profile (Get Rating)

Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.

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Earnings History and Estimates for Foghorn Therapeutics (NASDAQ:FHTX)

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