Equities Analysts Set Expectations for FHTX FY2027 Earnings

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Analysts at HC Wainwright increased their FY2027 EPS estimates for shares of Foghorn Therapeutics in a report issued on Friday, October 2nd. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings of ($0.67) per share for the year, up from their previous estimate of ($0.84). HC Wainwright has a “Buy” rating and a $5.00 price objective on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($0.86) per share. HC Wainwright also issued estimates for Foghorn Therapeutics’ FY2028 earnings at ($0.66) EPS, FY2029 earnings at ($0.66) EPS and FY2030 earnings at ($0.65) EPS.

Other equities research analysts have also recently issued reports about the stock. TD Cowen cut shares of Foghorn Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. BTIG Research cut Foghorn Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, October 1st. Stifel Nicolaus set a $5.00 price objective on Foghorn Therapeutics in a report on Thursday, October 1st. Citigroup downgraded Foghorn Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Thursday, October 1st. Finally, Wedbush downgraded shares of Foghorn Therapeutics from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $2.00 in a report on Friday, October 2nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Foghorn Therapeutics currently has an average rating of “Hold” and a consensus target price of $6.67.

Foghorn Therapeutics Stock Up 6.1%

Shares of Foghorn Therapeutics stock opened at $2.09 on Tuesday. The business’s 50 day moving average is $4.93 and its 200-day moving average is $4.76. Foghorn Therapeutics has a 12-month low of $1.79 and a 12-month high of $7.61. The stock has a market cap of $124.10 million, a P/E ratio of -2.13 and a beta of 3.01.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.14. The business had revenue of $16.07 million for the quarter, compared to analyst estimates of $6.80 million.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Foghorn Therapeutics during the 2nd quarter worth approximately $12,819,000. Renaissance Technologies LLC boosted its holdings in Foghorn Therapeutics by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 406,425 shares of the company’s stock worth $1,943,000 after acquiring an additional 108,689 shares during the last quarter. Candriam S.C.A. purchased a new position in Foghorn Therapeutics during the first quarter worth about $1,500,000. Squarepoint Ops LLC increased its stake in Foghorn Therapeutics by 25.6% in the 2nd quarter. Squarepoint Ops LLC now owns 130,346 shares of the company’s stock valued at $636,000 after buying an additional 26,603 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Foghorn Therapeutics during the 2nd quarter worth approximately $522,000. Institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Company Profile

Foghorn Therapeutics Inc is a clinical-stage biotechnology company focused on developing medicines that target the chromatin regulatory system, which helps control how genes are expressed. The company’s research is aimed primarily at cancer and other diseases in which abnormalities in gene regulation contribute to disease progression.

Foghorn uses its proprietary Gene Traffic Control platform to study interactions among chromatin-regulating proteins and identify potential drug targets.