Forte Biosciences: Guggenheim initiates Buy rating, sets PT at $75.

Forte Biosciences: Guggenheim initiates Buy rating, sets PT at $75.

Guggenheim Securities has initiated a "Buy" rating on Forte Biosciences (NASDAQ: FBRX) stock, setting a price target of $75. The analyst firm highlighted the company's progress in developing FB102, a therapeutic candidate targeting autoimmune conditions such as graft-versus-host disease, vitiligo, and alopecia areata.

Forte Biosciences recently reported positive Phase 1b trial results for FB102 in celiac disease treatment, showing statistically significant benefits in key metrics. The company is now initiating a Phase 2 trial in celiac disease, with topline results expected in 2026. Additionally, Forte Biosciences has launched Phase 1b trials in vitiligo and alopecia areata, with data anticipated in the first half of 2026.

The analyst noted that the positive clinical data and the company's expanding pipeline of autoimmune indications present a compelling investment case. Guggenheim's price target reflects the potential value of FB102 across multiple autoimmune conditions, as well as the company's strong balance sheet following its recent fundraising activities.

In the second quarter of 2025, Forte Biosciences reported a net loss of $0.96 per share, down from $6.78 in the same period last year. The company ended Q2 with $106.1 million in cash and cash equivalents. The financial performance reflects the company's ongoing investment in clinical and preclinical development, as well as its strategic initiatives to advance FB102.

Forte Biosciences' stock has been volatile in recent months, reflecting the uncertainty surrounding the development of FB102 and the broader biopharmaceutical sector. However, Guggenheim's positive outlook and price target suggest that investors may be underestimating the potential of Forte Biosciences' pipeline and the company's ability to execute on its development plans.

In summary, Guggenheim Securities' "Buy" rating on Forte Biosciences reflects the company's strong clinical data, expanding pipeline, and robust balance sheet. The price target of $75 is a significant endorsement of the potential value of FB102 across multiple autoimmune indications. Investors should closely monitor Forte Biosciences' clinical progress and financial performance as the company continues to advance its therapeutic candidate.

References:
[1] https://www.stocktitan.net/news/FBRX/
[2] https://www.biospace.com/press-releases/forte-biosciences-inc-announces-results-and-provides-update-2025