What is HC Wainwright’s Forecast for FHTX FY2030 Earnings?

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Investment analysts at HC Wainwright issued their FY2030 earnings per share estimates for shares of Foghorn Therapeutics in a research report issued on Thursday, March 12th. HC Wainwright analyst A. Maldonado expects that the company will earn $0.23 per share for the year. HC Wainwright has a “Buy” rating and a $13.00 price target on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.55) per share.

A number of other research analysts also recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $10.00 price target on shares of Foghorn Therapeutics in a research note on Thursday. Wall Street Zen lowered shares of Foghorn Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. BTIG Research initiated coverage on shares of Foghorn Therapeutics in a research report on Thursday, December 18th. They set a “buy” rating and a $11.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Foghorn Therapeutics in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Foghorn Therapeutics in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Foghorn Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Foghorn Therapeutics Stock Performance

Shares of FHTX opened at $4.90 on Friday. Foghorn Therapeutics has a 1 year low of $2.94 and a 1 year high of $6.95. The stock has a market capitalization of $277.10 million, a PE ratio of -4.19 and a beta of 3.02. The stock has a 50-day simple moving average of $5.66 and a 200-day simple moving average of $5.05.

Foghorn Therapeutics (NASDAQ:FHTX) last released its earnings results on Wednesday, March 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $9.25 million for the quarter, compared to the consensus estimate of $9.50 million.

Hedge Funds Weigh In On Foghorn Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its position in shares of Foghorn Therapeutics by 7.3% during the 4th quarter. Deutsche Bank AG now owns 27,421 shares of the company’s stock worth $148,000 after buying an additional 1,861 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Foghorn Therapeutics by 48.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,103 shares of the company’s stock worth $35,000 after buying an additional 2,305 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Foghorn Therapeutics by 16.1% during the second quarter. JPMorgan Chase & Co. now owns 18,723 shares of the company’s stock worth $88,000 after acquiring an additional 2,597 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Foghorn Therapeutics by 18.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,908 shares of the company’s stock valued at $84,000 after purchasing an additional 2,812 shares during the period. Finally, Strs Ohio raised its holdings in shares of Foghorn Therapeutics by 120.5% in the fourth quarter. Strs Ohio now owns 8,600 shares of the company’s stock valued at $46,000 after buying an additional 4,700 shares during the last quarter. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

Foghorn Therapeutics Company Profile

Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.

The company’s lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.