|Bid||29.35 x 1400|
|Ask||37.44 x 900|
|Day's Range||31.00 - 34.22|
|52 Week Range||13.35 - 53.99|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 10, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||88.60|
Forte Biosciences, Inc. (www.fortebiorx.com) (NASDAQ: FBRX), a clinical-stage biopharmaceutical company, will be providing first quarter 2021 results and a general business update on May 10, 2021.
Forte Biosciences reported a smaller-than-expected loss in the fourth quarter. Shares of the clinical-stage biopharmaceutical company rose almost 2% in Wednesday’s extended trading session after closing 9.5% lower on the day. Forte (FBRX) incurred a loss of $0.37 per share in 4Q, compared to the $0.57 loss per share estimated by analysts. Results compared favorably to the prior-year quarter’s loss of $0.74 per share. The company’s research and development expenses more than doubled on a year-over-year basis to $3 million in the quarter, while total general and administrative expenses more than tripled to $1.5 million. (See Forte Biosciences stock analysis on TipRanks) Forte CEO Paul Wagner said, “In September, we initiated a randomized trial of FB-401 in atopic dermatitis patients, including adults and children 2 years of age and older. We are very pleased to announce that patient enrollment is now complete.” “Another notable milestone was the granting of Fast Track designation to FB-401 by the FDA in recognition of the unmet need and seriousness of the disease,” Wagner added. Ladenburg Thalmann analyst Michael Higgins increased the stock’s price target to $90 (260% upside potential) from $70 and maintained a Buy rating “given the increased confidence in FB-401’s Phase 2.” The consensus rating among analysts is a Strong Buy based on 3 unanimous Buys. The average analyst price target stands at $97.50 and implies upside potential of almost 290% to current levels over the next 12 months. Shares have gained 11.2% over the past year. Related News: Ametek Inks Deal To Acquire Abaco Systems For $1.35B IHS Markit’s Quarterly Results Top Analysts’ Expectations; Street Sees 26% Upside ServiceNow Inks Deal To Acquire Intellibot, Boosts Automated Workflow More recent articles from Smarter Analyst: Equifax Snaps Up i2verify; Street Sees 21% Upside Mettler-Toledo Acquires PendoTECH; Street Says Hold Ovintiv Agrees To Sell Eagle Ford Assets For $880 Million, Updates Guidance Celanese To Expand Manufacturing Capacity; Street Says Buy
Forte Biosciences, Inc. (www.fortebiorx.com) (NASDAQ: FBRX), a clinical-stage biopharmaceutical company announces fourth quarter and full year 2020 results and provides a general business update on March 24, 2021.