Fortress Biotech, Inc. (FBIO) Given Consensus Rating of “Buy” by Brokerages

Fortress Biotech, Inc. (NASDAQ:FBIO) has earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.00.

A number of research firms have recently commented on FBIO. FBR & Co reissued a “buy” rating on shares of Fortress Biotech in a report on Tuesday, July 4th. Rodman & Renshaw began coverage on Fortress Biotech in a report on Tuesday, July 11th. They set a “buy” rating and a $11.00 price target for the company. HC Wainwright set a $11.00 price target on Fortress Biotech and gave the stock a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research cut Fortress Biotech from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, ValuEngine cut Fortress Biotech from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd.



Several institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Fortress Biotech by 14.8% during the 2nd quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock worth $2,222,000 after buying an additional 60,121 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Fortress Biotech by 2.1% during the 2nd quarter. Northern Trust Corp now owns 386,435 shares of the biopharmaceutical company’s stock worth $1,836,000 after buying an additional 7,858 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Fortress Biotech by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 288,566 shares of the biopharmaceutical company’s stock worth $1,067,000 after buying an additional 8,958 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fortress Biotech by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 110,061 shares of the biopharmaceutical company’s stock worth $408,000 after buying an additional 5,170 shares in the last quarter. Finally, Abner Herrman & Brock LLC acquired a new position in shares of Fortress Biotech during the 2nd quarter worth $493,000. 11.78% of the stock is owned by institutional investors.

Shares of Fortress Biotech (NASDAQ FBIO) opened at 4.41 on Thursday. The firm has a 50-day moving average price of $4.61 and a 200-day moving average price of $4.25. Fortress Biotech has a 12 month low of $1.88 and a 12 month high of $5.13. The company’s market capitalization is $222.82 million.

WARNING: This piece was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/28/fortress-biotech-inc-fbio-given-consensus-rating-of-buy-by-brokerages.html.

Fortress Biotech Company Profile

Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.

Receive News & Ratings for Fortress Biotech Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply