After Chardan Capital and Ladenburg Thalmann & Co. gave Forte Biosciences (NASDAQ: FBRX) a Buy rating last month, the company received another Buy, this time from Brookline Capital Markets. Analyst Kumaraguru Raja maintained a Buy rating on Forte Biosciences today and set a price target of $103.00. The company’s shares closed last Wednesday at $26.64.
According to TipRanks.com, Raja is a 4-star analyst with an average return of 23.7% and a 44.8% success rate. Raja covers the Healthcare sector, focusing on stocks such as Hepion Pharmaceuticals, Arcturus Therapeutics, and Outlook Therapeutics.
Currently, the analyst consensus on Forte Biosciences is a Strong Buy with an average price target of $97.50, a 236.2% upside from current levels. In a report issued on March 17, Chardan Capital also reiterated a Buy rating on the stock with a $105.00 price target.
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Based on Forte Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.58 million. In comparison, last year the company had a GAAP net loss of $630K.
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