Wedbush Has Pessimistic Outlook of FHTX FY2028 Earnings

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Analysts at Wedbush cut their FY2028 earnings per share (EPS) estimates for Foghorn Therapeutics in a note issued to investors on Monday, December 16th. Wedbush analyst R. Driscoll now expects that the company will earn ($0.63) per share for the year, down from their prior forecast of $0.69. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.58) per share.

A number of other research analysts have also issued reports on FHTX. 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 report on Tuesday, September 24th. Jefferies Financial Group lowered their price objective on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday. One equities 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 stock has an average rating of “Moderate Buy” and a consensus target price of $13.80.

Foghorn Therapeutics Stock Performance

Shares of FHTX stock opened at $5.14 on Thursday. Foghorn Therapeutics has a 1 year low of $2.70 and a 1 year high of $10.25. The business’s fifty day moving average is $7.50 and its 200-day moving average is $7.15. The stock has a market cap of $285.75 million, a PE ratio of -2.68 and a beta of 3.10.

Hedge Funds Weigh In On Foghorn Therapeutics

A number of institutional investors have recently bought and sold shares of FHTX. Barclays PLC lifted its stake in Foghorn Therapeutics by 191.6% during the third quarter. Barclays PLC now owns 39,920 shares of the company’s stock valued at $371,000 after buying an additional 26,228 shares in the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 146,276 shares in the last quarter. XTX Topco Ltd acquired a new position in Foghorn Therapeutics in the 3rd quarter worth approximately $101,000. Zacks Investment Management acquired a new position in Foghorn Therapeutics in the 3rd quarter worth approximately $96,000. Finally, Wellington Management Group LLP grew its position in Foghorn Therapeutics by 64.9% during the 3rd quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock worth $672,000 after purchasing an additional 28,427 shares in the last quarter. Hedge funds and other 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.