Ladenburg Thalmann & Co. Keeps a Buy Rating on Forte Biosciences (FBRX)


In a report released today, Michael Higgins from Ladenburg Thalmann & Co. reiterated a Buy rating on Forte Biosciences (FBRX), with a price target of $90.00. The company’s shares closed last Wednesday at $26.30.

According to TipRanks.com, Higgins is a 4-star analyst with an average return of 14.9% and a 39.3% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and Rhythm Pharmaceuticals.

Forte Biosciences has an analyst consensus of Moderate Buy, with a price target consensus 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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Tocagen, Inc. is a clinical-stage, cancer-selective gene therapy company, which engages in the development of product candidates designed to activate a patient’s immune system against their own cancer. It is in the business of discovery, development, and commercialization of products for the treatment of cancer. The company was founded by Thomas E. Darcy, Harry E. Gruber, Douglas J. Jolly, and Dennis N. Berman in August 2007 and is headquartered San Diego, CA.

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