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Strength Seen in Foghorn Therapeutics Inc. (FHTX): Can Its 5.3% Jump Turn into More Strength?
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Foghorn Therapeutics Inc. (FHTX - Free Report) shares rallied 5.3% in the last trading session to close at $14.18. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 28% gain over the past four weeks.
Earlier this month, the company provided a robust clinical update and outlook on its pipeline candidates that are being developed for various cancer indications. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of +35.5%. Revenues are expected to be $14.4 million, up 4865.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Foghorn Therapeutics Inc., the consensus EPS estimate for the quarter has been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FHTX going forward to see if this recent jump can turn into more strength down the road.
Foghorn Therapeutics Inc. is part of the Zacks Medical - Drugs industry. Organogenesis (ORGO - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $7.66. ORGO has returned 16.5% in the past month.
For Organogenesis, the consensus EPS estimate for the upcoming report has changed -37.5% over the past month to $0.05. This represents a change of -28.6% from what the company reported a year ago. Organogenesis currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Foghorn Therapeutics Inc. (FHTX): Can Its 5.3% Jump Turn into More Strength?
Foghorn Therapeutics Inc. (FHTX - Free Report) shares rallied 5.3% in the last trading session to close at $14.18. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 28% gain over the past four weeks.
Earlier this month, the company provided a robust clinical update and outlook on its pipeline candidates that are being developed for various cancer indications. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.40 per share in its upcoming report, which represents a year-over-year change of +35.5%. Revenues are expected to be $14.4 million, up 4865.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Foghorn Therapeutics Inc., the consensus EPS estimate for the quarter has been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FHTX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Foghorn Therapeutics Inc. is part of the Zacks Medical - Drugs industry. Organogenesis (ORGO - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $7.66. ORGO has returned 16.5% in the past month.
For Organogenesis, the consensus EPS estimate for the upcoming report has changed -37.5% over the past month to $0.05. This represents a change of -28.6% from what the company reported a year ago. Organogenesis currently has a Zacks Rank of #3 (Hold).