Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Investment analysts at Wedbush upped their Q2 2021 earnings per share (EPS) estimates for shares of Foghorn Therapeutics in a report issued on Wednesday, May 12th. Wedbush analyst R. Driscoll now expects that the company will post earnings of ($0.62) per share for the quarter, up from their prior estimate of ($0.65). Wedbush also issued estimates for Foghorn Therapeutics’ Q3 2021 earnings at ($0.64) EPS, Q4 2021 earnings at ($0.65) EPS, FY2021 earnings at ($2.53) EPS, FY2022 earnings at ($2.35) EPS, FY2023 earnings at ($2.46) EPS, FY2024 earnings at ($2.55) EPS and FY2025 earnings at ($1.39) EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Foghorn Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 17th. Morgan Stanley reduced their price target on Foghorn Therapeutics from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, March 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Foghorn Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $24.67.
NASDAQ FHTX opened at $9.67 on Monday. Foghorn Therapeutics has a twelve month low of $9.48 and a twelve month high of $28.26. The stock’s 50 day moving average is $11.33 and its 200 day moving average is $16.33.
Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in shares of Foghorn Therapeutics in the 1st quarter valued at about $1,439,000. Morgan Stanley increased its stake in shares of Foghorn Therapeutics by 821.1% in the 1st quarter. Morgan Stanley now owns 393,722 shares of the company’s stock valued at $5,190,000 after purchasing an additional 350,978 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Foghorn Therapeutics by 7.5% during the 1st quarter. Bank of New York Mellon Corp now owns 19,440 shares of the company’s stock worth $256,000 after purchasing an additional 1,354 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Foghorn Therapeutics by 10.7% during the 1st quarter. Geode Capital Management LLC now owns 146,640 shares of the company’s stock worth $1,932,000 after purchasing an additional 14,128 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Foghorn Therapeutics in the fourth quarter valued at approximately $566,000.
Foghorn Therapeutics Company Profile
Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.
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