Forte Biosciences (NASDAQ:FBRX) Lowered to Buy at ValuEngine

Forte Biosciences (NASDAQ:FBRX) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. FBR & Co started coverage on shares of Forte Biosciences in a report on Friday, August 28th. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Forte Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, June 23rd. Truist Securiti initiated coverage on shares of Forte Biosciences in a report on Tuesday, August 25th. They issued a “buy” rating and a $70.00 target price on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Forte Biosciences in a report on Monday, June 22nd. They issued a “buy” rating on the stock. Finally, Brookline Capital Management initiated coverage on shares of Forte Biosciences in a report on Friday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Forte Biosciences currently has a consensus rating of “Buy” and an average price target of $72.50.

Shares of FBRX stock opened at $43.71 on Tuesday. Forte Biosciences has a 1 year low of $6.33 and a 1 year high of $45.00. The business’s fifty day moving average is $25.20. The company has a market capitalization of $489.77 million, a price-to-earnings ratio of -1.28 and a beta of 0.57.

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

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Forte Biosciences (NASDAQ:FBRX)

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