Forte Biosciences initiated with a Buy at Lucid Capital

Lucid Capital initiated coverage of Forte Biosciences (FBRX) with a Buy rating and $28 price target entered clinical development for indications which could result in FB-102 growing into a blockbuster drug for multiple indications, the analyst tells investors in a research note. The firm says that while the lead indication celiac disease represents a “relatively modest, but significant market opportunity,” FB-102 could subsequently be developed for diseases representing billion-dollar market potentials.