Zacks: Analysts Anticipate Foghorn Therapeutics Inc. (NASDAQ:FHTX) Will Post Quarterly Sales of $14.40 Million

Wall Street brokerages expect Foghorn Therapeutics Inc. (NASDAQ:FHTXGet Rating) to announce sales of $14.40 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Foghorn Therapeutics’ earnings. The highest sales estimate is $18.80 million and the lowest is $10.00 million. Foghorn Therapeutics posted sales of $280,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 5,042.9%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Foghorn Therapeutics will report full year sales of $58.33 million for the current fiscal year, with estimates ranging from $40.00 million to $75.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $58.60 million, with estimates ranging from $40.80 million to $75.00 million. Zacks’ sales averages 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 earnings results on Thursday, March 10th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.03). The business had revenue of $0.71 million during the quarter, compared to analyst estimates of $0.33 million. Foghorn Therapeutics had a negative net margin of 7,681.58% and a negative return on equity of 99.53%.

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

A number of large investors have recently added to or reduced their stakes in FHTX. Royal Bank of Canada increased its holdings in Foghorn Therapeutics by 102.3% in 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 last quarter. Bank of America Corp DE grew its holdings in Foghorn Therapeutics by 126.8% during the second quarter. Bank of America Corp DE now owns 12,270 shares of the company’s stock valued at $131,000 after purchasing an additional 6,861 shares during the last quarter. Morgan Stanley grew its holdings in Foghorn Therapeutics by 149.0% during the second quarter. Morgan Stanley now owns 980,209 shares of the company’s stock valued at $10,460,000 after purchasing an additional 586,487 shares during the last quarter. SG Americas Securities LLC acquired a new position in Foghorn Therapeutics during the third quarter valued at approximately $152,000. Finally, BlackRock Inc. grew its holdings in Foghorn Therapeutics by 2.4% during the third quarter. BlackRock Inc. now owns 1,119,685 shares of the company’s stock valued at $15,597,000 after purchasing an additional 25,825 shares during the last quarter. Hedge funds and other institutional investors own 66.92% of the company’s stock.

Shares of FHTX opened at $8.48 on Thursday. The company has a market capitalization of $351.65 million, a price-to-earnings ratio of -3.24 and a beta of 3.13. Foghorn Therapeutics has a fifty-two week low of $8.01 and a fifty-two week high of $24.34. The business’s 50-day moving average is $12.99 and its 200-day moving average is $14.12.

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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