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

Foghorn Therapeutics Inc. (NASDAQ:FHTX) – Research analysts at B. Riley issued their FY2024 earnings per share (EPS) estimates for Foghorn Therapeutics in a research report issued on Wednesday, January 29th. B. Riley analyst K. Patel forecasts 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 ($1.53) 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.

A number of other brokerages also recently issued reports on FHTX. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. Jefferies Financial Group lowered their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Foghorn Therapeutics presently has a consensus rating of “Buy” and an average price target of $13.17.

Foghorn Therapeutics Price Performance

NASDAQ FHTX opened at $4.19 on Monday. The company’s 50 day simple moving average is $5.32 and its two-hundred day simple moving average is $6.93. The stock has a market capitalization of $233.01 million, a PE ratio of -2.18 and a beta of 3.21. Foghorn Therapeutics has a 1 year low of $2.70 and a 1 year high of $10.25.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Foghorn Therapeutics by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock worth $172,000 after purchasing an additional 3,049 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Foghorn Therapeutics during the 4th quarter valued at about $134,000. China Universal Asset Management Co. Ltd. bought a new stake in Foghorn Therapeutics in the 4th quarter worth approximately $56,000. Barclays PLC boosted its stake in Foghorn Therapeutics by 191.6% in the third quarter. Barclays PLC now owns 39,920 shares of the company’s stock worth $371,000 after buying an additional 26,228 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Foghorn Therapeutics by 27.5% in the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after buying an additional 146,276 shares in the last quarter. Institutional investors 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.