- Shares of Forte Biosciences (FBRX +13.4%) are trading higher on after Truist's analyst Nicole Germino has initiated coverage of the company's stock with a "Buy" recommendation and set a price target of $70 per share (150% upside).
- The analyst notes that Forte's FB-401 for inflammatory skin diseases, will be "initially focused on pediatric atropic dermatitis patients, where treatment is currently limited to primarily topicalsteroids and Pfizer's Eucrisa.
- He is positive on Forte's "differentiated" biology and mechanism of action, adding that its lead asset FB-401 is expected to report Phase 2 data in mid-2021.