Foghorn Therapeutics (NASDAQ:FHTX) Posts Earnings Results, Beats Estimates By $1.03 EPS

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

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX opened at $1.87 on Monday. The stock’s 50-day simple moving average is $3.13 and its two-hundred day simple moving average is $4.62. Foghorn Therapeutics has a twelve month low of $1.79 and a twelve month high of $7.61. The firm has a market capitalization of $111.05 million, a P/E ratio of -1.91 and a beta of 3.22.

Wall Street Analyst Weigh In

FHTX has been the subject of several analyst reports. Wedbush downgraded Foghorn Therapeutics from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $2.00 in a research note on Friday, October 2nd. BTIG Research cut Foghorn Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, October 1st. Stifel Nicolaus set a $5.00 price target on shares of Foghorn Therapeutics in a report on Thursday, October 1st. Citizens Jmp downgraded shares of Foghorn Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Finally, TD Cowen lowered shares of Foghorn Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Foghorn Therapeutics currently has a consensus rating of “Hold” and an average target price of $6.14.

Foghorn Therapeutics Company Profile

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.