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

Key Points

• HC Wainwright raised its FY2027 EPS estimate for Foghorn Therapeutics to a loss of $0.67 per share from a prior loss estimate of $0.84, while maintaining a Buy rating and $5 price target.
• Foghorn reported a quarterly loss of $0.10 per share, beating the $0.24 consensus loss estimate, and generated $16.07 million in revenue versus expectations of $6.80 million.
• Analyst sentiment is mixed: the stock carries a consensus Hold rating and $6.67 price target, while shares recently traded near $2.00 after falling 1.0%.

Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) - Equities research analysts at HC Wainwright increased their FY2027 earnings per share (EPS) estimates for shares of Foghorn Therapeutics in a research note issued to investors on Friday, October 2nd. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings of ($0.67) per share for the year, up from their prior estimate 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 ($0.85) 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 - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.14. The company had revenue of $16.07 million during the quarter, compared to analysts' expectations of $6.80 million.

FHTX has been the topic of several other reports. Citizens Jmp cut Foghorn Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 1st. TD Cowen downgraded shares of Foghorn Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday. Guggenheim dropped their price target on shares of Foghorn Therapeutics from $12.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday. Wedbush downgraded shares of Foghorn Therapeutics from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $10.00 to $2.00 in a research report on Friday. Finally, Stifel Nicolaus set a $5.00 price objective on shares of Foghorn Therapeutics in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.67.

Foghorn Therapeutics Trading Down 1.0%

Shares of Foghorn Therapeutics stock opened at $2.00 on Tuesday. The company has a market capitalization of $118.76 million, a P/E ratio of -2.04 and a beta of 3.01. The stock has a fifty day simple moving average of $5.04 and a 200 day simple moving average of $4.80. Foghorn Therapeutics has a 12-month low of $1.79 and a 12-month high of $7.61.

Institutional Trading of Foghorn Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its stake in Foghorn Therapeutics by 25.6% in the second quarter. Squarepoint Ops LLC now owns 130,346 shares of the company's stock valued at $636,000 after acquiring an additional 26,603 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Foghorn Therapeutics during the 2nd quarter worth approximately $127,000. Canada Pension Plan Investment Board purchased a new stake in shares of Foghorn Therapeutics during the 2nd quarter worth approximately $122,000. BlackRock Inc. bought a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth approximately $12,819,000. Finally, Deutsche Bank AG bought a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth approximately $178,000. 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.

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