FY2024 Earnings Forecast for FHTX Issued By HC Wainwright

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Stock analysts at HC Wainwright lifted their FY2024 EPS estimates for Foghorn Therapeutics in a research note issued to investors on Tuesday, December 17th. HC Wainwright analyst A. Fein now forecasts that the company will earn ($1.49) per share for the year, up from their previous forecast of ($1.59). HC Wainwright has a “Buy” rating and a $13.00 price target on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.58) 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.

A number of other equities analysts also recently commented on FHTX. Jefferies Financial Group decreased their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley lifted their target price on Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.80.

Foghorn Therapeutics Stock Performance

FHTX opened at $4.98 on Thursday. The company has a market capitalization of $276.85 million, a P/E ratio of -2.59 and a beta of 3.10. The company has a 50-day moving average of $7.55 and a 200-day moving average of $7.16. Foghorn Therapeutics has a 1-year low of $2.70 and a 1-year high of $10.25.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of institutional investors have recently modified their holdings of the business. Zacks Investment Management acquired a new position in Foghorn Therapeutics in the third quarter valued at approximately $96,000. SG Americas Securities LLC acquired a new stake in shares of Foghorn Therapeutics during the 3rd quarter worth approximately $99,000. Renaissance Technologies LLC bought a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth approximately $62,000. XTX Topco Ltd acquired a new position in Foghorn Therapeutics during the 3rd quarter valued at approximately $101,000. Finally, The Manufacturers Life Insurance Company bought a new position in Foghorn Therapeutics during the 2nd quarter worth $64,000. Institutional investors own 61.55% of the company’s stock.

About Foghorn Therapeutics

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.