Foghorn Therapeutics (NASDAQ:FHTX) Issues Earnings Results, Beats Estimates By $1.04 EPS

Foghorn Therapeutics (NASDAQ:FHTX) posted its quarterly earnings data on Monday. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $1.04, FiscalAI reports. The firm had revenue of $83.54 million during the quarter, compared to analyst estimates of $7.10 million.

Foghorn Therapeutics Stock Performance

Shares of FHTX opened at $2.04 on Tuesday. The company’s 50 day moving average price is $3.05 and its 200 day moving average price is $4.60. Foghorn Therapeutics has a 52 week low of $1.79 and a 52 week high of $7.61. The company has a market capitalization of $121.14 million, a PE ratio of -2.08 and a beta of 3.22.

Analyst Ratings Changes

FHTX has been the subject of a number of research analyst reports. Wall Street Zen upgraded Foghorn Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Citizens Jmp cut Foghorn Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Foghorn Therapeutics in a report on Thursday, October 15th. HC Wainwright dropped their price target on Foghorn Therapeutics from $13.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Finally, Stifel Nicolaus set a $5.00 price objective on Foghorn Therapeutics in a research note on Thursday, October 1st. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.