What is B. Riley’s Estimate for FHTX FY2024 Earnings?

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Equities researchers at B. Riley issued their FY2024 earnings per share (EPS) estimates for shares of Foghorn Therapeutics in a report issued on Wednesday, January 29th. B. Riley analyst K. Patel expects that the company will post earnings per share of ($1.65) for the year. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.53) per share. B. Riley also issued estimates for Foghorn Therapeutics’ Q4 2024 earnings at ($0.37) EPS, FY2025 earnings at ($1.64) EPS, FY2026 earnings at ($1.31) EPS, FY2027 earnings at ($1.44) EPS, FY2028 earnings at ($1.54) EPS and FY2029 earnings at ($1.53) EPS.

Other research analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. Jefferies Financial Group reduced their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Foghorn Therapeutics has a consensus rating of “Buy” and an average target price of $13.17.

Foghorn Therapeutics Stock Down 3.5 %

Foghorn Therapeutics stock opened at $4.19 on Monday. The stock has a market cap of $233.01 million, a P/E ratio of -2.18 and a beta of 3.21. Foghorn Therapeutics has a twelve month low of $2.70 and a twelve month high of $10.25. The company’s 50-day moving average price is $5.32 and its two-hundred day moving average price is $6.93.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State Street Corp grew its position in shares of Foghorn Therapeutics by 4.9% in the 3rd quarter. State Street Corp now owns 505,945 shares of the company’s stock valued at $4,710,000 after buying an additional 23,630 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Foghorn Therapeutics by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock worth $703,000 after purchasing an additional 7,000 shares during the period. Barclays PLC lifted its position in Foghorn Therapeutics by 191.6% in the 3rd quarter. Barclays PLC now owns 39,920 shares of the company’s stock valued at $371,000 after acquiring an additional 26,228 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Foghorn Therapeutics by 27.5% during the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock valued at $6,308,000 after buying an additional 146,276 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Foghorn Therapeutics in the 3rd quarter worth $101,000. 61.55% of the stock is currently owned by 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.