Analysts Issue Forecasts for FBRX FY2030 Earnings

Key Points

• Brookline Capital Markets analyst K. Raja projects FY2030 EPS of ($6.07) for Forte Biosciences, considerably less negative than the current consensus of ($12.12), indicating a more optimistic long-term earnings outlook.
• Forte recently reported quarterly EPS of ($1.45), missing the analysts' consensus of ($1.42) by $0.03.
• Analyst sentiment is mixed: Weiss Ratings reaffirmed a "sell (e+)" while MarketBeat's consensus is a "Moderate Buy" with a $67.00 target; the stock trades around $26.17 and institutional investors hold about 77.63% of shares.

Forte Biosciences, Inc. (NASDAQ:FBRX - Free Report) - Investment analysts at Brookline Capital Markets issued their FY2030 EPS estimates for shares of Forte Biosciences in a research note issued to investors on Monday, April 6th. Brookline Capital Markets analyst K. Raja expects that the company will earn ($6.07) per share for the year. The consensus estimate for Forte Biosciences' current full-year earnings is ($12.12) per share.

Forte Biosciences (NASDAQ:FBRX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($1.45) earnings per share for the quarter, missing analysts' consensus estimates of ($1.42) by ($0.03).

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Forte Biosciences in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

Forte Biosciences Price Performance

Shares of FBRX stock opened at $26.17 on Wednesday. Forte Biosciences has a one year low of $4.90 and a one year high of $35.62. The company's fifty day moving average price is $28.40 and its 200-day moving average price is $22.89. The company has a market capitalization of $363.40 million, a price-to-earnings ratio of -5.49 and a beta of 3.20.

Hedge Funds Weigh In On Forte Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in Forte Biosciences in the 4th quarter worth $27,000. Bank of America Corp DE lifted its position in shares of Forte Biosciences by 5,641.8% in the third quarter. Bank of America Corp DE now owns 3,158 shares of the company's stock worth $47,000 after buying an additional 3,103 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Forte Biosciences during the third quarter valued at approximately $161,000. Jane Street Group LLC bought a new position in Forte Biosciences during the fourth quarter valued at approximately $228,000. Finally, Citadel Advisors LLC purchased a new position in Forte Biosciences during the 3rd quarter valued at approximately $234,000. Institutional investors own 77.63% of the company's stock.

About Forte Biosciences

Forte Biosciences, Inc is a clinical-stage biotechnology company focused on developing innovative treatments to restore skin health by targeting the underlying biology of the skin barrier and microbiome. Headquartered in San Diego, California, Forte leverages proprietary platforms to discover and advance topical live biotherapeutic products and skin barrier therapies aimed at addressing serious dermatological conditions.

The company's lead product candidate, FB-401, is a topical live biotherapeutic formulation designed to rebalance the skin microbiome in patients with atopic dermatitis.

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