Forte Biosciences initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Forte Biosciences (FBRX) with an Outperform rating and $65 price target There has been a notable re-rating in development-stage microcap companies, especially those with important proof of concept data in 2025 and 2026, notes the analyst. While arguing that Forte “falls squarely in this bucket,” the firm notes shares have been slow to get the same bid until the last two weeks, adding that it thinks the setup is “super attractive into a catalyst-rich 2026.”