Forte Biosciences Inc reports results for the quarter ended in June - Earnings Summary

Forte Biosciences

15/08/2024 06:08

* Forte Biosciences Inc  FBRX.OQ  reported a quarterly
adjusted
loss of 27 cents​​ per share for the quarter ended in June.  The
mean expectation of three analysts for the quarter was for a
loss of 17 cents per share. Wall Street expected results to
range from -17 cents to -16 cents per share.
    * Reported revenue was zero​; analysts expected zero. 
    * Forte Biosciences Inc's reported EPS for the quarter was a
loss
of 27 cents​.
    * The company reported a quarterly loss of $12.51 million.
    * Forte Biosciences Inc shares had fallen by 27.4% this
quarter and lost 52.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Forte Biosciences
Inc is $3.00 
This summary was machine generated from LSEG data August 15 at
05:07 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       -0.17          -0.27          Missed
 Mar. 31 2024      -0.16          -0.16          Met
 Dec. 31 2023      -0.28          -0.19          Beat