First-in-class oral selective SMARCA2 (BRM) inhibitor, FHD-909 (LY4050784), advancing in Phase 1 trial for SMARCA4 mutated cancers, with non-small cell lung cancer (NSCLC) as the primary target patient population FHD-909 preclinical combination data with pembrolizumab and KRAS inhibitors to be presented at the AACR Annual Meeting (April 25-30, 2025) Selective degradation of ARID1B achieved with expected update in 2025; continued progress of Selective CBP degrader and Selective EP300 degrader Strong balanc ...

Core Viewpoint - Foghorn Therapeutics Inc. (FHTX) has received a Zacks Rank 1 (Strong Buy) upgrade, indicating a positive outlook for its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks rating system is based on the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts for the current and following years [2]. - A strong correlation exists between changes in earnings estimates and near-term stock price movements, making the Zacks rating system valuable for investors [3][5]. - For the fiscal year ending December 2024, Foghorn Therapeutics is expected to earn -$1.53 per share, representing a 34.6% change from the previous year [9]. - Over the past three months, the Zacks Consensus Estimate for Foghorn Therapeutics has increased by 41.5% [9]. Investment Implications - The upgrade to Zacks Rank 1 suggests an improvement in Foghorn Therapeutics' underlying business, which is likely to attract buying pressure and increase its stock price [4][6]. - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - Being in the top 5% of Zacks-covered stocks indicates superior earnings estimate revisions, positioning Foghorn Therapeutics as a strong candidate for market-beating returns in the near term [10][11].

Objective clinical responses by standard response criteria observed in Phase 1 dose escalation trial for FHD-286 in combination with decitabine in patients with relapsed and/or refractory AML; efficacy threshold not achieved to support continued development by Foghorn alone Company to prioritize investment into proprietary pipeline and Lilly collaboration programs, including the clinical-stage selective SMARCA2 (BRM) inhibitor, FHD-909 (LY4050784) As of September 30, 2024, the Company had $267.4 million i ...

Core Viewpoint - Foghorn Therapeutics Inc. (FHTX) has experienced significant selling pressure, resulting in a 30.2% decline in stock price over the past four weeks, but analysts anticipate improved earnings reports in the near future [1] Group 1: Stock Performance and Technical Analysis - FHTX's stock is currently in oversold territory, with a Relative Strength Index (RSI) reading of 27.37, indicating a potential for price reversal [5][7] - The stock's heavy selling appears to be exhausting itself, suggesting a possible return to equilibrium in supply and demand [5] - The RSI is a momentum oscillator that helps identify oversold conditions, typically when the reading falls below 30 [2][3] Group 2: Earnings Estimates and Analyst Sentiment - Over the last 30 days, the consensus earnings per share (EPS) estimate for FHTX has increased by 5.2%, indicating a positive trend in earnings revisions [7] - FHTX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate trends and EPS surprises, further supporting the stock's potential for a turnaround [8]

Investors might want to bet on Foghorn Therapeutics Inc. (FHTX) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Th ...

Core Viewpoint - Foghorn Therapeutics Inc. (FHTX) shows significant upside potential with a mean price target of $16, indicating a 104.1% increase from its current price of $7.84 [1] Price Target Analysis - The mean estimate consists of six short-term price targets with a standard deviation of $4.34, suggesting variability in analyst predictions. The lowest estimate of $9 indicates a 14.8% increase, while the highest target of $20 suggests a 155.1% increase [2] - A low standard deviation among price targets indicates strong agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [7] Earnings Estimates and Analyst Sentiment - There is growing optimism among analysts regarding FHTX's earnings prospects, as evidenced by a positive trend in earnings estimate revisions. The Zacks Consensus Estimate for the current year has increased by 11.2% over the past month, with four estimates rising and no negative revisions [9][10] - FHTX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for near-term upside [11] Caution on Price Targets - While price targets are often sought after by investors, they can be misleading. Analysts may set overly optimistic targets due to business incentives, which can inflate expectations [5][6] - Investors should approach price targets with skepticism and not rely solely on them for investment decisions, as this could lead to disappointing returns [8]

Core Insights - Foghorn Therapeutics Inc. is a clinical-stage biotechnology company focused on developing a new class of medicines aimed at correcting abnormal gene expression to treat serious diseases, with an initial emphasis on oncology [1][4] - The company utilizes its proprietary Gene Traffic Control® platform to identify and validate potential drug targets within the chromatin regulatory system, which has the potential to transform treatment options for a wide range of diseases [1][4] Conference Participation - Foghorn management will participate in the Jefferies London Healthcare Conference on November 19, 2024, with a fireside chat led by CEO Adrian Gottschalk [2] - The company will also engage in one-on-one meetings during the 7th Annual Evercore HealthCONx Conference on December 3, 2024, and the Citi Global Healthcare Conference on December 4, 2024 [3][2] Company Overview - Foghorn Therapeutics is dedicated to discovering and developing medicines that target genetically determined dependencies within the chromatin regulatory system, with multiple product candidates currently in development for oncology [4]

Foghorn Therapeutics Inc. (FHTX) came out with a quarterly loss of $0.31 per share versus the Zacks Consensus Estimate of a loss of $0.42. This compares to loss of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.19%. A quarter ago, it was expected that this company would post a loss of $0.60 per share when it actually produced a loss of $0.45, delivering a surprise of 25%.Over the last four quarters, the company has s ...

Foghorn Therapeutics Inc. (FHTX) closed the last trading session at $8.28, gaining 35.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $15 indicates an 81.2% upside potential. The average comprises five short-term price targets ranging from a low of $6 to a high of $20, with a standard deviation of $5.83. While the lowest estimate indicates a decline of 27.5% from the current pri ...

CAMBRIDGE, Mass., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Foghorn® Therapeutics Inc. (Nasdaq: FHTX), a clinical-stage biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression, today announced management's participation in the 2024 Wells Fargo Healthcare Conference and presentation at the Morgan Stanley 22nd Annual Global Healthcare Conference. With an initial focus in oncology, Foghorn's Gene Traffic Control® platform and resulting broad pipeline ...