FY2028 EPS Estimates for Foghorn Therapeutics Cut by Wedbush

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Equities research analysts at Wedbush lowered their FY2028 earnings per share estimates for shares of Foghorn Therapeutics in a report released on Monday, December 16th. Wedbush analyst R. Driscoll now forecasts that the company will earn ($0.63) per share for the year, down from their previous estimate of $0.69. The consensus estimate for Foghorn Therapeutics’ current full-year earnings is ($1.58) per share.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group dropped their target price on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley raised their price objective on Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, September 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.80.

Foghorn Therapeutics Stock Performance

NASDAQ FHTX traded down $0.05 during mid-day trading on Thursday, reaching $4.86. 57,402 shares of the stock were exchanged, compared to its average volume of 139,795. Foghorn Therapeutics has a 1 year low of $2.70 and a 1 year high of $10.25. The business’s 50 day moving average is $7.60 and its 200-day moving average is $7.17. The company has a market capitalization of $270.18 million, a P/E ratio of -2.53 and a beta of 3.10.

Insiders Place Their Bets

In other news, insider Carlos Costa sold 35,756 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.04, for a total value of $358,990.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.07% of the stock is owned by company insiders.

Institutional Trading of Foghorn Therapeutics

A number of hedge funds have recently bought and sold shares of FHTX. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 7,000 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Foghorn Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock valued at $148,000 after buying an additional 8,958 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Foghorn Therapeutics by 34.3% in the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock worth $206,000 after acquiring an additional 9,171 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Foghorn Therapeutics during the 3rd quarter worth $96,000. Finally, SG Americas Securities LLC acquired a new position in shares of Foghorn Therapeutics during the 3rd quarter valued at about $99,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

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.