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

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

Other research analysts also recently issued research reports about the company. BTIG Research started coverage on Foghorn Therapeutics in a report on Thursday, December 18th. They set a “buy” rating and a $11.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $10.00 price objective on shares of Foghorn Therapeutics in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Foghorn Therapeutics in a report on Thursday, January 22nd. Stifel Nicolaus assumed coverage on shares of Foghorn Therapeutics in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Foghorn Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Foghorn Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $11.13.

Foghorn Therapeutics Stock Up 2.8%

Shares of FHTX traded up $0.14 during trading hours on Friday, hitting $5.06. The company had a trading volume of 26,000 shares, compared to its average volume of 169,796. Foghorn Therapeutics has a 52-week low of $2.94 and a 52-week high of $6.95. The firm has a market cap of $286.14 million, a P/E ratio of -4.32 and a beta of 3.02. The stock’s 50 day moving average price is $5.67 and its 200 day moving average price is $5.06.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $9.25 million during the quarter, compared to analysts’ expectations of $9.50 million.

Institutional Trading of Foghorn Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FHTX. Brummer Multi Strategy AB purchased a new position in shares of Foghorn Therapeutics in the fourth quarter worth $25,000. Russell Investments Group Ltd. increased its position in Foghorn Therapeutics by 13,755.0% in the third quarter. Russell Investments Group Ltd. now owns 5,542 shares of the company’s stock worth $27,000 after buying an additional 5,502 shares in the last quarter. Evelyn Partners Asset Management Ltd bought a new position in shares of Foghorn Therapeutics in the second quarter worth about $33,000. BNP Paribas Financial Markets lifted its position in shares of Foghorn Therapeutics by 48.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,103 shares of the company’s stock valued at $35,000 after buying an additional 2,305 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Foghorn Therapeutics by 136.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company’s stock worth $43,000 after acquiring an additional 5,323 shares in the last quarter. 61.55% of the stock is currently owned by institutional investors.

About Foghorn Therapeutics

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.