Q2 2024 EPS Estimates for Foghorn Therapeutics Inc. (NASDAQ:FHTX) Increased by Analyst

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Stock analysts at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for Foghorn Therapeutics in a research note issued to investors on Monday, May 6th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of ($0.52) per share for the quarter, up from their prior estimate of ($0.53). Wedbush currently has a “Outperform” rating and a $13.00 price target on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($2.05) per share. Wedbush also issued estimates for Foghorn Therapeutics’ Q3 2024 earnings at ($0.45) EPS, Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at ($1.97) EPS, FY2025 earnings at ($1.36) EPS, FY2026 earnings at ($1.17) EPS, FY2027 earnings at ($0.70) EPS and FY2028 earnings at $2.58 EPS.

Separately, HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Foghorn Therapeutics in a research report on Tuesday.

Foghorn Therapeutics Price Performance

Shares of FHTX stock opened at $5.98 on Thursday. Foghorn Therapeutics has a 1 year low of $2.70 and a 1 year high of $9.97. The stock’s 50 day simple moving average is $6.41 and its two-hundred day simple moving average is $5.35. The company has a market cap of $254.57 million, a PE ratio of -2.39 and a beta of 3.15.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its earnings results on Thursday, March 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The firm had revenue of $5.77 million during the quarter, compared to analysts’ expectations of $4.91 million.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in shares of Foghorn Therapeutics by 788.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock valued at $32,000 after buying an additional 4,437 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Foghorn Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock valued at $139,000 after buying an additional 5,460 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Foghorn Therapeutics during the first quarter valued at approximately $77,000. Alta Wealth Advisors LLC bought a new position in shares of Foghorn Therapeutics during the fourth quarter valued at approximately $194,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Foghorn Therapeutics during the third quarter valued at approximately $173,000. 61.55% of the stock is currently 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.