Foghorn Therapeutics Inc. (NASDAQ:FHTX – Get Rating) – Equities researchers at HC Wainwright raised their FY2022 earnings estimates for Foghorn Therapeutics in a report issued on Wednesday, November 9th. HC Wainwright analyst A. Fein now forecasts that the company will earn ($2.54) per share for the year, up from their previous estimate of ($2.64). The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($2.46) per share. HC Wainwright also issued estimates for Foghorn Therapeutics’ Q4 2022 earnings at ($0.61) EPS, FY2023 earnings at ($2.73) EPS, FY2024 earnings at ($2.61) EPS, FY2025 earnings at ($2.58) EPS and FY2026 earnings at ($2.21) EPS.
Several other brokerages have also recently weighed in on FHTX. Wedbush decreased their price target on Foghorn Therapeutics to $25.00 in a research note on Tuesday, August 23rd. Morgan Stanley downgraded shares of Foghorn Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $25.00 to $15.00 in a research note on Tuesday, August 23rd.
Foghorn Therapeutics Trading Up 1.4 %
Institutional Trading of Foghorn Therapeutics
Hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Foghorn Therapeutics by 7.4% in the second quarter. FMR LLC now owns 3,433,878 shares of the company’s stock worth $46,701,000 after purchasing an additional 238,012 shares during the period. Vanguard Group Inc. increased its position in Foghorn Therapeutics by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 860,770 shares of the company’s stock valued at $13,109,000 after buying an additional 16,079 shares in the last quarter. Deerfield Management Company L.P. Series C raised its stake in Foghorn Therapeutics by 225.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 777,525 shares of the company’s stock worth $10,574,000 after buying an additional 538,660 shares during the period. Driehaus Capital Management LLC boosted its holdings in Foghorn Therapeutics by 19.7% in the second quarter. Driehaus Capital Management LLC now owns 382,940 shares of the company’s stock worth $5,208,000 after acquiring an additional 62,940 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Foghorn Therapeutics by 7,130.8% during the second quarter. Point72 Asset Management L.P. now owns 376,000 shares of the company’s stock valued at $5,114,000 after acquiring an additional 370,800 shares in the last quarter. Institutional investors own 61.92% of the company’s stock.
Foghorn Therapeutics Company Profile
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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