Foghorn Therapeutics (NASDAQ:FHTX) Upgraded to "Strong-Buy" at B. Riley

Key Points

• Foghorn Therapeutics was upgraded to a "strong-buy" rating by B. Riley, indicating positive momentum for the company.
• The stock has experienced significant price fluctuations, with a 1-year low of $2.94 and a high of $10.25, and opened at $4.80 on the day of the report.
• In its latest quarterly earnings, Foghorn reported an EPS of ($0.28), beating estimates, alongside a revenue of $7.56 million, slightly below analyst expectations.

B. Riley upgraded shares of Foghorn Therapeutics (NASDAQ:FHTX - Free Report) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports. B. Riley also issued estimates for Foghorn Therapeutics' Q3 2025 earnings at ($0.33) EPS, Q4 2025 earnings at ($0.33) EPS, FY2025 earnings at ($1.25) EPS, FY2026 earnings at ($0.90) EPS, FY2027 earnings at ($0.91) EPS, FY2028 earnings at ($1.02) EPS and FY2029 earnings at ($0.94) EPS.

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX traded down $0.10 during mid-day trading on Tuesday, reaching $4.92. 62,200 shares of the company's stock were exchanged, compared to its average volume of 125,179. The firm has a market capitalization of $278.13 million, a price-to-earnings ratio of -4.13 and a beta of 3.05. Foghorn Therapeutics has a 52 week low of $2.94 and a 52 week high of $10.17. The firm has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $4.65.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. The firm had revenue of $7.56 million during the quarter, compared to the consensus estimate of $7.62 million. As a group, sell-side analysts forecast that Foghorn Therapeutics will post -1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Foghorn Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evelyn Partners Asset Management Ltd bought a new stake in shares of Foghorn Therapeutics during the second quarter valued at about $33,000. Tower Research Capital LLC TRC grew its position in Foghorn Therapeutics by 136.8% during the second quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company's stock valued at $43,000 after acquiring an additional 5,323 shares during the last quarter. Lazard Asset Management LLC bought a new position in Foghorn Therapeutics during the fourth quarter valued at approximately $49,000. BNP Paribas Financial Markets bought a new position in shares of Foghorn Therapeutics in the fourth quarter worth approximately $61,000. Finally, AQR Capital Management LLC bought a new position in shares of Foghorn Therapeutics in the first quarter worth approximately $68,000. 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.