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Foghorn Therapeutics Inc (FHTX) fair value: what the stock is really worth

We calculate from audited financials what Foghorn Therapeutics Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Healthcare · US · ISIN US3441741077

FT Foghorn Therapeutics Inc logo Thin data Jun 23, 2026

Foghorn Therapeutics Inc

FHTX · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $1.56 · Strongly overvalued (−57%)
!Quality 30/100
!Mixed Growth (revenue 5y +135.1 %/yr)
!Loss-making · -175.8% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (1/7)
!Narrow moat 9/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$22.87 $2.82 Fair Value $1.56 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range $2.82 – $22.87 · fair‑value band $1.17 – $1.96 · the $3.60 price screens above the $1.56 fair value. Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Foghorn Therapeutics Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system in the United States.

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Foghorn Therapeutics Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system in the United States. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system. It is developing therapies for mutant; non-small cell lung; endometrial, cervical, ovarian, and bladder cancer; and diffuse large B-cell lymphoma, as well as various acute myeloid leukemia and myelodysplastic syndrome. The company has collaboration agreement with Eli Lilly and Company for developing FHD-909, a selective ATPase inhibitor of BRM. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.

Stock analysis

Foghorn Therapeutics Inc (FHTX) currently trades at $3.60, while our model-based Fair Value estimate is $1.56, implying the stock looks roughly 130.2% overvalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $1.17 (bear) to $1.96 (bull), the price of $3.60 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 30/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Foghorn Therapeutics Inc reported revenue of $30.9M in FY2025 versus $1.3M in FY2021, a compound +120.0%/yr. Reported net income was −$74.3M in FY2025.

Key figures

Market cap $254M · P/S ratio 6.66 · EPS (TTM) $−0.9400 · Net margin −176% · Return on equity −470% · Return on assets (EBIT) −32.7% · Operating margin −54.8% · Revenue (TTM) $36.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 49% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −57%, FHTX screens richer than that median.

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Quality Score breakdown

Overall quality 30/100

Of which business quality 30 · Market factors (momentum, volatility) 15

Profitability 7
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 33/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+36.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+135.1%
Start year 2020 (pandemic)
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−15,937.4% (2020) → −265.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

FHTX screens 130% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 654 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 30 · Bottom 25%
Fair Value upside −57% · Below median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −20% · Below median
Net margin (TTM) −176% · Bottom 25%
Operating margin (TTM) −55% · Bottom 25%
Growth and dividend
Revenue growth 113% · Top 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 6.92× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 23

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $522.38 $574.62 +10%
Regeneron Pharmaceuticals, Inc REGN $801.82 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.12 A$197.03 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
BeOne Medicines AG 6160 HK$218.20 HK$169.72 −22%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BioNTech SE BNTX $100.87 $63.62 −37%

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Foghorn Therapeutics Inc · Fair Value
$1.56 −130%Fair Value
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Cite: Fair Value Calculator (2026). "Foghorn Therapeutics Inc Fair Value". https://www.fairvalue-calculator.com/stock/FHTX

Frequently asked questions

Is Foghorn Therapeutics Inc (FHTX) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of $1.56 versus a price of $3.60, about −57% upside (overvalued).
What is the fair value of FHTX?
Our model-based fair value for Foghorn Therapeutics Inc is $1.56 (as of Jun 23, 2026), built from audited fundamentals. The current price: $3.60.
What is the quality score of FHTX?
Foghorn Therapeutics Inc has a Quality Score of 30/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Foghorn Therapeutics Inc (FHTX)?
Our model-based price target is the fair value of $1.56 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario $1.17, optimistic scenario $1.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Foghorn Therapeutics Inc stock forecast for 2026?
Our models put fair value at $1.56, about −57% upside versus a price of $3.60 (overvalued). Cautious scenario $1.17, optimistic scenario $1.96. The calculation is refreshed regularly with new filings.
What is the revenue of Foghorn Therapeutics Inc (FHTX)?
Foghorn Therapeutics Inc reported trailing-twelve-month revenue of about $36.7M (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of Foghorn Therapeutics Inc (FHTX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Foghorn Therapeutics Inc it is $1.56 per share (as of Jun 23, 2026), against a price of $3.60. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Foghorn Therapeutics Inc stock overvalued or undervalued in 2026?
As of Jun 23, 2026, FHTX trades above its calculated fair value: price $3.60, fair value $1.56, a gap of about −57% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FHTX?
No. The price is what the market pays today ($3.60); the fair value is what the company's own numbers justify ($1.56). For Foghorn Therapeutics Inc the two are $2.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Foghorn Therapeutics Inc worth?
The market values Foghorn Therapeutics Inc at about $254M (market capitalisation, as of Jun 23, 2026). Per share that is $3.60; our models calculate a fair value of $1.56 per share.
What do the bullish and bearish scenarios say about FHTX?
Our models span a range for Foghorn Therapeutics Inc: cautious scenario $1.17, base $1.56, optimistic $1.96 per share (as of Jun 23, 2026, price $3.60). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Foghorn Therapeutics Inc (FHTX)?
Balance-sheet figures for Foghorn Therapeutics Inc (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is FHTX from its 52-week high?
Foghorn Therapeutics Inc trades at $3.60, about 49% below its 52-week high of $7.07 and 2% above the low of $3.53 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $1.56 is for.
Which stocks are comparable to Foghorn Therapeutics Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Foghorn Therapeutics Inc stock attractive at the current price?
The data as of Jun 23, 2026: price $3.60, calculated fair value $1.56 (−57%), Quality Score 30/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FHTX calculated?
We run Foghorn Therapeutics Inc through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.56, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Foghorn Therapeutics Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Foghorn Therapeutics Inc (FHTX)?
The closing price on Sep 24, 2026 was $3.60. Our model-based fair value is $1.56, about −57% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Foghorn Therapeutics Inc right now?
The price sits above even our optimistic bull case ($1.96). The favourable scenario is already priced in. Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Foghorn Therapeutics Inc

How large is the market capitalisation of Foghorn Therapeutics Inc (FHTX)?
The market capitalisation of Foghorn Therapeutics Inc is $254M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Foghorn Therapeutics Inc (FHTX)?
The price-to-sales ratio of Foghorn Therapeutics Inc is 6.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Foghorn Therapeutics Inc (FHTX)?
Earnings per share at Foghorn Therapeutics Inc are $−0.9400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Foghorn Therapeutics Inc (FHTX)?
The net margin of Foghorn Therapeutics Inc is −176% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Foghorn Therapeutics Inc (FHTX)?
The return on equity (ROE) of Foghorn Therapeutics Inc is −470% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Foghorn Therapeutics Inc (FHTX)?
On an EBIT basis the return on assets of Foghorn Therapeutics Inc is −32.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Foghorn Therapeutics Inc (FHTX)?
The operating margin of Foghorn Therapeutics Inc is −54.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Foghorn Therapeutics Inc (FHTX)?
Revenue at Foghorn Therapeutics Inc is growing +113% versus a year earlier (3y avg +17.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Foghorn Therapeutics Inc (FHTX) generate?
The free cash flow of Foghorn Therapeutics Inc is −$86.1M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Foghorn Therapeutics Inc (FHTX) hold?
Foghorn Therapeutics Inc holds more cash than debt, $39.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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