Q2 2022 Earnings Forecast for Foghorn Therapeutics Inc. Issued By Wedbush (NASDAQ:FHTX)

Foghorn Therapeutics Inc. (NASDAQ:FHTXGet Rating) – Wedbush cut their Q2 2022 earnings per share (EPS) estimates for Foghorn Therapeutics in a report issued on Tuesday, May 10th. Wedbush analyst R. Driscoll now expects that the company will post earnings per share of ($0.33) for the quarter, down from their prior estimate of ($0.29). Wedbush has a “Outperform” rating and a $32.00 price target on the stock. Wedbush also issued estimates for Foghorn Therapeutics’ Q3 2022 earnings at ($0.40) EPS, Q4 2022 earnings at ($0.41) EPS, FY2022 earnings at ($1.79) EPS, FY2023 earnings at ($1.87) EPS, FY2024 earnings at ($2.12) EPS, FY2025 earnings at ($0.71) EPS and FY2026 earnings at $4.44 EPS.

Several other research firms have also recently weighed in on FHTX. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Foghorn Therapeutics in a research report on Friday, March 11th. Zacks Investment Research cut shares of Foghorn Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, March 21st.

FHTX opened at $9.13 on Friday. Foghorn Therapeutics has a fifty-two week low of $8.01 and a fifty-two week high of $24.34. The firm has a 50-day moving average of $12.98 and a 200 day moving average of $14.08.

Foghorn Therapeutics (NASDAQ:FHTXGet Rating) last released its earnings results on Thursday, March 10th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.03). The company had revenue of $0.71 million for the quarter, compared to analyst estimates of $0.33 million. Foghorn Therapeutics had a negative net margin of 2,124.94% and a negative return on equity of 118.78%.

Hedge funds have recently made changes to their positions in the stock. Pura Vida Investments LLC acquired a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at $949,000. SG Americas Securities LLC purchased a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at about $152,000. Kingdon Capital Management L.L.C. purchased a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at about $2,866,000. Royal Bank of Canada increased its holdings in shares of Foghorn Therapeutics by 102.3% in the 2nd quarter. Royal Bank of Canada now owns 2,588 shares of the company’s stock valued at $27,000 after acquiring an additional 1,309 shares during the last quarter. Finally, NewSquare Capital LLC acquired a new stake in shares of Foghorn Therapeutics in the 1st quarter valued at about $152,000. Institutional investors own 66.92% of the company’s stock.

About Foghorn Therapeutics (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.

Further Reading

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

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