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Brookline and Chardan bullish on Forte Biosciences

August 28, 2020

Brookline’s has initiated coverage on Forte Biosciences (FBRX +13.9%) with a Buy rating and a price target of $90 (~200% upside). Sees a favorable risk-reward for its lead asset FB-401 in inflammatory skin diseases.

Chardan also upgraded the stock to Buy from Neutral with a $45 price target (~50% upside). The analyst estimates $892.5M in risk-adjusted 2030 sales for the drug candidate. He is positive on “potentially best-in-class approach” for FB-401 in atopic dermatitis, compared to other microbiome medicines (based on their clinical trials).

Recently, Truist initiated coverage on the company with Buy rating and price target of $70.

https://seekingalpha.com/news/3609839-brookline-and-chardan-bullish-on-forte-biosciences

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