What is HC Wainwright’s Forecast for FHTX FY2024 Earnings?

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Analysts at HC Wainwright raised their FY2024 earnings estimates for Foghorn Therapeutics in a research report issued to clients and investors on Tuesday, November 5th. HC Wainwright analyst A. Fein now expects that the company will post earnings per share of ($1.59) for the year, up from their prior forecast of ($1.88). HC Wainwright has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.88) per share. HC Wainwright also issued estimates for Foghorn Therapeutics’ Q4 2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.41) EPS, FY2025 earnings at ($1.54) EPS, FY2026 earnings at ($1.67) EPS, FY2027 earnings at ($1.62) EPS and FY2028 earnings at ($0.33) EPS.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.15. The business had revenue of $6.89 million during the quarter, compared to the consensus estimate of $6.60 million.

FHTX has been the subject of several other research reports. Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Foghorn Therapeutics in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on Foghorn Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $18.00 price objective on the stock. Evercore ISI started coverage on Foghorn Therapeutics in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Morgan Stanley lifted their price target on Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Foghorn Therapeutics Stock Up 3.4 %

NASDAQ:FHTX opened at $9.24 on Thursday. Foghorn Therapeutics has a twelve month low of $2.70 and a twelve month high of $10.25. The stock’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $6.80. The firm has a market capitalization of $511.25 million, a PE ratio of -4.81 and a beta of 3.14.

Insider Buying and Selling

In other Foghorn Therapeutics news, insider Carlos Costa sold 35,756 shares of Foghorn Therapeutics stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.04, for a total transaction of $358,990.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.07% of the stock is currently owned by insiders.

Institutional Trading of Foghorn Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Foghorn Therapeutics by 34.3% in the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock valued at $206,000 after purchasing an additional 9,171 shares during the last quarter. SG Americas Securities LLC acquired a new position in Foghorn Therapeutics in the third quarter valued at $99,000. Renaissance Technologies LLC bought a new stake in Foghorn Therapeutics during the second quarter valued at $62,000. The Manufacturers Life Insurance Company acquired a new stake in Foghorn Therapeutics during the 2nd quarter worth about $64,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Foghorn Therapeutics during the 1st quarter worth about $77,000. Institutional investors and hedge funds 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.