Forte Biosciences (NASDAQ:FBRX) Receives $72.50 Consensus Price Target from Brokerages

Shares of Forte Biosciences (NASDAQ:FBRX) have received an average recommendation of “Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $85.00.

FBRX has been the topic of several research reports. Brookline Capital Management started coverage on shares of Forte Biosciences in a report on Friday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. LADENBURG THALM/SH SH started coverage on shares of Forte Biosciences in a research report on Monday, June 22nd. They issued a “buy” rating for the company. Truist started coverage on shares of Forte Biosciences in a research report on Tuesday, August 25th. They issued a “buy” rating and a $70.00 price objective for the company. Truist Securiti started coverage on shares of Forte Biosciences in a research report on Tuesday, August 25th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Chardan Capital increased their price objective on shares of Forte Biosciences from $60.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday.

NASDAQ FBRX traded up $3.40 during mid-day trading on Tuesday, hitting $49.00. The company’s stock had a trading volume of 101,799 shares, compared to its average volume of 91,058. Forte Biosciences has a 52-week low of $6.33 and a 52-week high of $53.99. The company has a fifty day moving average price of $29.97. The stock has a market cap of $549.05 million, a price-to-earnings ratio of -1.43 and a beta of 0.57.

Forte Biosciences (NASDAQ:FBRX) last posted its quarterly earnings results on Monday, August 10th. The company reported ($9.52) EPS for the quarter. Forte Biosciences had a negative net margin of 176,433.34% and a negative return on equity of 516.31%. Research analysts expect that Forte Biosciences will post -7.58 EPS for the current 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.

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Analyst Recommendations for Forte Biosciences (NASDAQ:FBRX)

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