Foghorn Therapeutics (NASDAQ:FHTX) Issues Quarterly Earnings Results

Foghorn Therapeutics (NASDAQ:FHTX) released its quarterly earnings data on Wednesday. The company reported ($0.30) earnings per share for the quarter, hitting the consensus estimate of ($0.30), Zacks reports. The firm had revenue of $5.95 million for the quarter, compared to analyst estimates of $4.96 million.

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX opened at $4.11 on Thursday. The company has a 50 day simple moving average of $3.98 and a 200 day simple moving average of $5.23. Foghorn Therapeutics has a 1 year low of $2.94 and a 1 year high of $10.25. The firm has a market cap of $229.01 million, a PE ratio of -2.14 and a beta of 3.13.

Analysts Set New Price Targets

Several brokerages have recently commented on FHTX. JMP Securities reiterated a “market outperform” rating and set a $9.00 target price on shares of Foghorn Therapeutics in a research note on Wednesday, April 30th. Citizens Jmp began coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $9.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Foghorn Therapeutics in a research report on Wednesday, April 30th. Citigroup began coverage on shares of Foghorn Therapeutics in a report on Wednesday, April 23rd. They set an “outperform” rating for the company. Finally, B. Riley started coverage on shares of Foghorn Therapeutics in a report on Thursday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $12.13.

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.