What is HC Wainwright’s Estimate for FHTX FY2027 Earnings?

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Stock analysts at HC Wainwright increased their FY2027 earnings per share estimates for shares of Foghorn Therapeutics in a report released on Friday, October 2nd. HC Wainwright analyst A. Maldonado now anticipates that the company will earn ($0.67) per share for the year, up from their previous forecast of ($0.84). HC Wainwright has a “Buy” rating and a $5.00 price objective on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($0.86) per share. HC Wainwright also issued estimates for Foghorn Therapeutics’ FY2028 earnings at ($0.66) EPS, FY2029 earnings at ($0.66) EPS and FY2030 earnings at ($0.65) EPS.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.14. The firm had revenue of $16.07 million for the quarter, compared to analyst estimates of $6.80 million.

Several other research firms also recently commented on FHTX. Guggenheim decreased their target price on shares of Foghorn Therapeutics from $12.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Citizens Jmp downgraded shares of Foghorn Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. BTIG Research lowered shares of Foghorn Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, October 1st. Stifel Nicolaus set a $5.00 price objective on shares of Foghorn Therapeutics in a research note on Thursday, October 1st. Finally, Citigroup cut shares of Foghorn Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Thursday, October 1st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Foghorn Therapeutics presently has an average rating of “Hold” and an average price target of $6.67.

Foghorn Therapeutics Stock Performance

NASDAQ:FHTX opened at $1.97 on Tuesday. The stock’s 50 day moving average price is $4.98 and its 200 day moving average price is $4.78. Foghorn Therapeutics has a 52 week low of $1.79 and a 52 week high of $7.61. The company has a market capitalization of $116.98 million, a P/E ratio of -2.01 and a beta of 3.01.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Foghorn Therapeutics in the second quarter valued at approximately $12,819,000. Renaissance Technologies LLC boosted its holdings in shares of Foghorn Therapeutics by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 406,425 shares of the company’s stock worth $1,943,000 after buying an additional 108,689 shares during the period. Candriam S.C.A. bought a new stake in shares of Foghorn Therapeutics during the 1st quarter worth $1,500,000. Squarepoint Ops LLC boosted its holdings in shares of Foghorn Therapeutics by 25.6% during the 2nd quarter. Squarepoint Ops LLC now owns 130,346 shares of the company’s stock worth $636,000 after buying an additional 26,603 shares during the period. Finally, SCS Capital Management LLC acquired a new position in Foghorn Therapeutics in the 2nd quarter valued at $522,000. Institutional investors own 61.55% of the company’s stock.

About Foghorn Therapeutics

Foghorn Therapeutics Inc is a clinical-stage biotechnology company focused on developing medicines that target the chromatin regulatory system, which helps control how genes are expressed. The company’s research is aimed primarily at cancer and other diseases in which abnormalities in gene regulation contribute to disease progression.

Foghorn uses its proprietary Gene Traffic Control platform to study interactions among chromatin-regulating proteins and identify potential drug targets.