- 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.