HC Wainwright Issues Optimistic Estimate for FHTX Earnings

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) - Equities research analysts at HC Wainwright upped their FY2024 EPS estimates for Foghorn Therapeutics in a research note issued on Tuesday, December 17th. HC Wainwright analyst A. Fein now anticipates that the company will earn ($1.49) per share for the year, up from their prior forecast of ($1.59). HC Wainwright has a "Buy" rating and a $13.00 price objective on the stock. The consensus estimate for Foghorn Therapeutics' current full-year earnings is ($1.58) per share. HC Wainwright also issued estimates for Foghorn Therapeutics' Q4 2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.26) EPS, FY2025 earnings at ($0.99) EPS, FY2026 earnings at ($1.00) EPS, FY2027 earnings at ($0.86) EPS and FY2028 earnings at ($0.57) EPS.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group dropped their target price on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a "buy" rating for the company in a report on Monday. Morgan Stanley lifted their price objective on Foghorn Therapeutics from $6.00 to $9.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $13.80.

Foghorn Therapeutics Stock Performance

Shares of Foghorn Therapeutics stock traded up $0.07 on Thursday, reaching $4.98. The company had a trading volume of 327,148 shares, compared to its average volume of 140,986. The firm's 50 day moving average price is $7.55 and its two-hundred day moving average price is $7.16. Foghorn Therapeutics has a 52-week low of $2.70 and a 52-week high of $10.25. The firm has a market cap of $276.85 million, a PE ratio of -2.59 and a beta of 3.10.

Insider Buying and Selling

In related news, insider Carlos Costa sold 35,756 shares of Foghorn Therapeutics stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.04, for a total value of $358,990.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Foghorn Therapeutics

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Foghorn Therapeutics during the second quarter worth about $62,000. The Manufacturers Life Insurance Company purchased a new position in Foghorn Therapeutics in the second quarter worth approximately $64,000. Zacks Investment Management acquired a new position in Foghorn Therapeutics during the 3rd quarter worth approximately $96,000. SG Americas Securities LLC purchased a new stake in shares of Foghorn Therapeutics in the 3rd quarter valued at approximately $99,000. Finally, XTX Topco Ltd acquired a new stake in shares of Foghorn Therapeutics in the 3rd quarter valued at $101,000. Institutional investors and hedge funds own 61.55% of the company's stock.

Foghorn Therapeutics Company Profile

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