FBRX - Forte Biosciences could offer over 100% upside with upcoming data in atopic dermatitis: Citi

Forte Biosciences ([[FBRX]] +1.4%) anticipates topline results in Q3 2021 from a Phase 2 trial for its lead asset FB-401 in atopic dermatitis ((AD)) for patients aged 2 years and older.Citi analysts Mohit Bansal and James Shin consider the readout as a major catalyst that could propel the stock to $75.00 - $107.00 per share range.With an overweight rating, the analysts estimate a price target of $75.00 for the stock implying an upside of ~113.7%. However, a failure could send Forte shares towards cash or $3.00 apiece, the analysts warned.Management predicts 25-30% improvement of Eczema Activity and Severity Index ((EASI)) would be realistic, higher than 10 – 15% benefit cited by experts as adequate, Bansal and Shin wrote.They also see a largely de-risked data read with FB-401 in a Phase 1/2 trial for AD leading to at least a 50% improvement in EASI-50 in 90% (18/20) of pediatric patients.The dosing of

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Forte Biosciences could offer over 100% upside with upcoming data in atopic dermatitis: Citi