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

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Stock analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for Foghorn Therapeutics in a report issued on Tuesday, November 5th. HC Wainwright analyst A. Fein now expects that the company will earn ($1.59) per share for the year, up from their previous forecast of ($1.88). HC Wainwright currently has a “Buy” rating and a $20.00 target price 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 posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.15. The firm had revenue of $6.89 million for the quarter, compared to analysts’ expectations of $6.60 million.

Other research analysts also recently issued research reports about the company. Evercore ISI initiated coverage on Foghorn Therapeutics in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target for the company. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Foghorn Therapeutics in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Foghorn Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Foghorn Therapeutics Price Performance

Foghorn Therapeutics stock opened at $9.11 on Thursday. The firm’s fifty day moving average price is $8.40 and its 200 day moving average price is $6.81. The company has a market capitalization of $504.06 million, a price-to-earnings ratio of -4.71 and a beta of 3.14. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $10.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FHTX. Jacobs Levy Equity Management Inc. boosted its stake in shares of Foghorn Therapeutics by 101.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock worth $1,451,000 after acquiring an additional 108,700 shares in the last quarter. Perceptive Advisors LLC bought a new stake in Foghorn Therapeutics in the 2nd quarter valued at $3,128,000. Raymond James & Associates grew its position in Foghorn Therapeutics by 4.8% during the second quarter. Raymond James & Associates now owns 2,338,423 shares of the company’s stock worth $13,446,000 after buying an additional 107,967 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Foghorn Therapeutics by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,433 shares of the company’s stock worth $457,000 after purchasing an additional 18,664 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Foghorn Therapeutics in the 1st quarter valued at $77,000. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Insider Activity

In other news, insider Carlos Costa sold 35,756 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is accessible through the SEC website. 9.07% of the stock is owned by insiders.

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.