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Foghorn Therapeutics Inc. (FHTX) Surges 12.8%: Is This an Indication of Further Gains?
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Foghorn Therapeutics Inc. (FHTX - Free Report) shares rallied 12.8% in the last trading session to close at $7.69. 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 15.8% loss over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. The company is significantly progressing across pipelines with its Gene Traffic Control platform targeting cancer indications. The company is evaluating its lead candidate FHD-286 in separate phase I studies, for metastatic uveal melanoma and refractory acute myeloid leukemia, respectively.
This company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of -10.6%. Revenues are expected to be $6.65 million, up 48.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Foghorn Therapeutics Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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. belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, 4D Molecular Therapeutics, Inc. (FDMT - Free Report) , closed the last trading session 0.9% higher at $18.25. Over the past month, FDMT has returned -7.3%.
For 4D Molecular Therapeutics, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.77. This represents a change of +11.5% from what the company reported a year ago. 4D Molecular Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).
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Foghorn Therapeutics Inc. (FHTX) Surges 12.8%: Is This an Indication of Further Gains?
Foghorn Therapeutics Inc. (FHTX - Free Report) shares rallied 12.8% in the last trading session to close at $7.69. 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 15.8% loss over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. The company is significantly progressing across pipelines with its Gene Traffic Control platform targeting cancer indications. The company is evaluating its lead candidate FHD-286 in separate phase I studies, for metastatic uveal melanoma and refractory acute myeloid leukemia, respectively.
This company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of -10.6%. Revenues are expected to be $6.65 million, up 48.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Foghorn Therapeutics Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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. belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, 4D Molecular Therapeutics, Inc. (FDMT - Free Report) , closed the last trading session 0.9% higher at $18.25. Over the past month, FDMT has returned -7.3%.
For 4D Molecular Therapeutics, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.77. This represents a change of +11.5% from what the company reported a year ago. 4D Molecular Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).