Brokerages Set Forte Biosciences (NASDAQ:FBRX) Target Price at $72.50

Shares of Forte Biosciences (NASDAQ:FBRX) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $85.00.

FBRX has been the subject of several research reports. ValuEngine cut Forte Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 15th. Zacks Investment Research cut Forte Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, June 23rd. Chardan Capital lifted their price target on Forte Biosciences from $60.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Brookline Capital Management initiated coverage on Forte Biosciences in a report on Friday, August 28th. They set a “buy” rating and a $90.00 price target for the company. Finally, BidaskClub raised Forte Biosciences from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 16th.

Shares of NASDAQ FBRX traded up $3.40 during midday trading on Tuesday, hitting $49.00. 101,799 shares of the company’s stock were exchanged, compared to its average volume of 91,058. Forte Biosciences has a 12 month low of $6.33 and a 12 month high of $53.99. The business has a 50 day moving average of $29.97. The company has a market capitalization of $549.05 million, a price-to-earnings ratio of -1.43 and a beta of 0.57.

Forte Biosciences (NASDAQ:FBRX) last issued its earnings results on Monday, August 10th. The company reported ($9.52) EPS for the quarter. Forte Biosciences had a negative return on equity of 516.31% and a negative net margin of 176,433.34%. On average, research analysts forecast that Forte Biosciences will post -7.58 earnings per share for the current fiscal year.

Forte Biosciences Company Profile

Forte Biosciences, Inc operates as a biotechnology company. The company was founded in 2017 and is based in Sherman Oaks, California.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Analyst Recommendations for Forte Biosciences (NASDAQ:FBRX)

Receive News & Ratings for Forte Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forte Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.