What is B. Riley’s Forecast for FHTX FY2024 Earnings?

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – B. Riley issued their FY2024 earnings per share (EPS) estimates for Foghorn Therapeutics in a report released on Wednesday, January 29th. B. Riley analyst K. Patel anticipates that the company will earn ($1.65) per share for the year. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.55) per share. B. Riley also issued estimates for Foghorn Therapeutics’ Q4 2024 earnings at ($0.37) EPS, FY2025 earnings at ($1.64) EPS, FY2026 earnings at ($1.31) EPS, FY2027 earnings at ($1.44) EPS, FY2028 earnings at ($1.54) EPS and FY2029 earnings at ($1.53) EPS.

FHTX has been the subject of a number of other reports. Jefferies Financial Group decreased their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. HC Wainwright restated a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $13.17.

Foghorn Therapeutics Price Performance

Foghorn Therapeutics stock opened at $4.11 on Monday. The firm has a 50-day moving average of $5.17 and a 200-day moving average of $6.90. The company has a market cap of $228.56 million, a price-to-earnings ratio of -2.14 and a beta of 3.19. Foghorn Therapeutics has a one year low of $2.70 and a one year high of $10.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FHTX. Geode Capital Management LLC lifted its holdings in shares of Foghorn Therapeutics by 27.5% during the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after acquiring an additional 146,276 shares during the period. State Street Corp lifted its stake in shares of Foghorn Therapeutics by 4.9% in the 3rd quarter. State Street Corp now owns 505,945 shares of the company’s stock valued at $4,710,000 after acquiring an additional 23,630 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Foghorn Therapeutics by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock worth $703,000 after acquiring an additional 7,000 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Foghorn Therapeutics by 64.9% in the third quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock valued at $672,000 after buying an additional 28,427 shares during the period. Finally, Walleye Capital LLC raised its stake in shares of Foghorn Therapeutics by 162.0% during the third quarter. Walleye Capital LLC now owns 44,927 shares of the company’s stock valued at $418,000 after acquiring an additional 27,782 shares during the last quarter. 61.55% of the stock is owned by institutional investors.

About Foghorn Therapeutics

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.