Foghorn Therapeutics Inc. (FHTX) shares ended the last trading session 11.4% higher at $5.29. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.5% gain over the past four weeks.
Last month, the company outlined key strategic objectives and several pipeline goals for 2025. The growing optimism related to Foghorn’s product candidates, which are being developed to treat a wide range of cancers, might have driven the recent share price rally.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +49.1%. Revenues are expected to be $11.72 million, up 103.1% 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, 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Foghorn Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, EyePoint Pharmaceuticals (EYPT), closed the last trading session 3.5% lower at $6.27. Over the past month, EYPT has returned -22.1%.
EyePoint Pharmaceuticals' consensus EPS estimate for the upcoming report has changed -2.5% over the past month to -$0.43. Compared to the company's year-ago EPS, this represents a change of -30.3%. EyePoint Pharmaceuticals currently boasts a Zacks Rank of #4 (Sell).
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