Foghorn Therapeutics (NASDAQ:FHTX) Announces Earnings Results

Foghorn Therapeutics (NASDAQ:FHTX) issued its earnings results on Monday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $1.03, FiscalAI reports. The firm had revenue of $83.54 million during the quarter, compared to analysts’ expectations of $7.10 million.

Foghorn Therapeutics Stock Performance

FHTX opened at $1.87 on Monday. The firm has a market cap of $111.05 million, a price-to-earnings ratio of -1.91 and a beta of 3.22. Foghorn Therapeutics has a 12 month low of $1.79 and a 12 month high of $7.61. The stock has a fifty day moving average price of $3.13 and a 200-day moving average price of $4.62.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FHTX shares. BTIG Research lowered Foghorn Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, October 1st. Stifel Nicolaus set a $5.00 price objective on shares of Foghorn Therapeutics in a research note on Thursday, October 1st. Citigroup lowered shares of Foghorn Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Thursday, October 1st. HC Wainwright dropped their target price on shares of Foghorn Therapeutics from $13.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Finally, Evercore downgraded shares of Foghorn Therapeutics from an “outperform” rating to an “in-line” rating and set a $3.00 target price on the stock. in a research report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.14.

About Foghorn Therapeutics

Foghorn Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target the chromatin regulatory system, which controls how DNA is packaged and how genes are expressed. The company’s research is directed primarily toward cancer therapies, particularly for tumors driven by abnormalities in chromatin-remodeling proteins.

Foghorn uses its proprietary Gene Traffic Control platform to identify and develop small-molecule treatments designed to modulate chromatin-regulating complexes.