Skip to content

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.

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: