What is B. Riley's Forecast for FHTX FY2024 Earnings?

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) - Stock analysts at B. Riley issued their FY2024 earnings per share (EPS) estimates for Foghorn Therapeutics in a research note issued to investors on Wednesday, January 29th. B. Riley analyst K. Patel anticipates that the company will post earnings per share of ($1.65) for the year. B. Riley currently has a "Strong-Buy" rating on the stock. The consensus estimate for Foghorn Therapeutics' current full-year earnings is ($1.55) per share. B. Riley also issued estimates for Foghorn Therapeutics' Q4 2024 earnings at ($0.37) EPS, FY2025 earnings at ($1.64) EPS, FY2026 earnings at ($1.31) EPS, FY2027 earnings at ($1.44) EPS, FY2028 earnings at ($1.54) EPS and FY2029 earnings at ($1.53) EPS.

A number of other brokerages have also weighed in on FHTX. HC Wainwright restated a "buy" rating and issued a $13.00 price objective (down from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. Jefferies Financial Group cut their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $13.17.

Foghorn Therapeutics Trading Down 5.7 %

NASDAQ:FHTX traded down $0.25 during mid-day trading on Monday, hitting $4.12. The stock had a trading volume of 81,911 shares, compared to its average volume of 118,130. Foghorn Therapeutics has a twelve month low of $2.98 and a twelve month high of $10.25. The company has a market capitalization of $229.11 million, a PE ratio of -2.15 and a beta of 3.19. The stock has a 50-day simple moving average of $5.03 and a two-hundred day simple moving average of $6.86.

Institutional Investors Weigh In On Foghorn Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Foghorn Therapeutics during the fourth quarter worth about $9,579,000. Geode Capital Management LLC boosted its position in shares of Foghorn Therapeutics by 27.5% in the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company's stock valued at $6,308,000 after purchasing an additional 146,276 shares during the period. State Street Corp grew its stake in Foghorn Therapeutics by 4.9% during the 3rd quarter. State Street Corp now owns 505,945 shares of the company's stock worth $4,710,000 after buying an additional 23,630 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Foghorn Therapeutics by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company's stock worth $703,000 after buying an additional 7,000 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Foghorn Therapeutics by 64.9% in the third quarter. Wellington Management Group LLP now owns 72,216 shares of the company's stock valued at $672,000 after buying an additional 28,427 shares during the last quarter. 61.55% of the stock is owned by hedge funds and other institutional investors.

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.