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

Foghorn Therapeutics (NASDAQ:FHTX) issued its quarterly earnings data on Monday. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Price Performance

NASDAQ FHTX opened at $1.87 on Monday. The company has a market cap of $111.05 million, a price-to-earnings ratio of -1.91 and a beta of 3.22. The stock’s fifty day moving average price is $3.13 and its 200 day moving average price is $4.62. Foghorn Therapeutics has a 1 year low of $1.79 and a 1 year high of $7.61.

Analyst Ratings Changes

A number of equities research analysts recently commented on FHTX shares. Wall Street Zen raised shares of Foghorn Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Foghorn Therapeutics in a research note on Thursday, October 15th. HC Wainwright cut their price target 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. Citizens Jmp lowered Foghorn Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Finally, Stifel Nicolaus set a $5.00 price objective on shares of Foghorn Therapeutics in a research report on Thursday, October 1st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.