FY2028 EPS Estimate for Foghorn Therapeutics Cut by Analyst

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Wedbush decreased their FY2028 earnings per share (EPS) estimates for Foghorn Therapeutics in a report released on Monday, December 16th. Wedbush analyst R. Driscoll now forecasts that the company will earn ($0.63) per share for the year, down from their previous forecast of $0.69. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.58) per share.

A number of other research firms also recently weighed in on FHTX. Jefferies Financial Group decreased their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley upped their price target on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 24th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Foghorn Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $13.80.

Foghorn Therapeutics Stock Up 1.4 %

Shares of NASDAQ:FHTX opened at $4.98 on Thursday. The company has a 50-day moving average price of $7.55 and a 200 day moving average price of $7.16. Foghorn Therapeutics has a 52 week low of $2.70 and a 52 week high of $10.25. The company has a market cap of $276.85 million, a P/E ratio of -2.59 and a beta of 3.10.

Institutional Trading of Foghorn Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FHTX. Perceptive Advisors LLC purchased a new position in Foghorn Therapeutics in the 2nd quarter valued at about $3,128,000. Raymond James & Associates grew its stake in Foghorn Therapeutics by 4.8% in the 2nd quarter. Raymond James & Associates now owns 2,338,423 shares of the company’s stock worth $13,446,000 after acquiring an additional 107,967 shares during the period. Bank of New York Mellon Corp raised its holdings in Foghorn Therapeutics by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 79,433 shares of the company’s stock valued at $457,000 after acquiring an additional 18,664 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Foghorn Therapeutics by 10.2% during the 3rd 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. Finally, Rhumbline Advisers boosted its holdings in shares of Foghorn Therapeutics by 34.3% during the second quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock worth $206,000 after purchasing an additional 9,171 shares during the last quarter. Hedge funds and other institutional investors own 61.55% of the company’s stock.

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.