FY2030 Earnings Estimate for FHTX Issued By HC Wainwright

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Equities researchers at HC Wainwright issued their FY2030 earnings per share estimates for shares of Foghorn Therapeutics in a research report issued on Thursday, March 12th. HC Wainwright analyst A. Maldonado forecasts that the company will post earnings of $0.23 per share for the year. HC Wainwright currently has a “Buy” rating and a $13.00 price target on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.55) per share.

Foghorn Therapeutics (NASDAQ:FHTX) last released its earnings results on Wednesday, March 11th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $9.25 million for the quarter, compared to the consensus estimate of $9.50 million.

A number of other research firms have also recently weighed in on FHTX. Wall Street Zen cut shares of Foghorn Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. BTIG Research assumed coverage on Foghorn Therapeutics in a research note on Thursday, December 18th. They issued a “buy” rating and a $11.00 price target for the company. Jefferies Financial Group restated a “buy” rating on shares of Foghorn Therapeutics in a research report on Thursday. Stifel Nicolaus initiated coverage on Foghorn Therapeutics in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $10.00 target price on shares of Foghorn Therapeutics in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Foghorn Therapeutics Price Performance

FHTX opened at $4.90 on Friday. The company has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $5.05. The firm has a market cap of $277.10 million, a P/E ratio of -4.19 and a beta of 3.02. Foghorn Therapeutics has a 1-year low of $2.94 and a 1-year high of $6.95.

Institutional Trading of Foghorn Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its stake in Foghorn Therapeutics by 70.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 27,099 shares of the company’s stock worth $127,000 after purchasing an additional 11,225 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of Foghorn Therapeutics during the third quarter valued at about $788,000. XTX Topco Ltd purchased a new position in shares of Foghorn Therapeutics during the fourth quarter valued at about $85,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Foghorn Therapeutics by 18.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,908 shares of the company’s stock worth $84,000 after purchasing an additional 2,812 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Foghorn Therapeutics by 350.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 14,269 shares of the company’s stock worth $77,000 after buying an additional 11,100 shares in the last quarter. 61.55% of the stock is currently owned by institutional investors.

Foghorn Therapeutics Company Profile

Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.

The company’s lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.