Fortress Biotech (NASDAQ:FBIO) has been assigned a $11.00 price objective by equities researchers at HC Wainwright in a report released on Tuesday, January 2nd. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 165.70% from the company’s previous close.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. ValuEngine lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Fortress Biotech has an average rating of “Buy” and an average target price of $11.00.
Shares of Fortress Biotech (NASDAQ FBIO) opened at $4.14 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.69 and a current ratio of 2.69. Fortress Biotech has a one year low of $2.19 and a one year high of $5.13. The firm has a market cap of $208.71, a P/E ratio of -2.26 and a beta of 1.11.
Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.24). Fortress Biotech had a negative return on equity of 61.43% and a negative net margin of 65.80%. The firm had revenue of $46.89 million for the quarter, compared to analysts’ expectations of $50.75 million. The business’s revenue for the quarter was up 4709.2% compared to the same quarter last year. analysts predict that Fortress Biotech will post -1.99 EPS for the current fiscal year.
In other Fortress Biotech news, SVP George Avgerinos sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $3.55, for a total value of $42,600.00. Following the transaction, the senior vice president now directly owns 352,495 shares in the company, valued at $1,251,357.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lindsay A. Md Rosenwald purchased 40,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was bought at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the chief executive officer now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. The disclosure for this purchase can be found here. Corporate insiders own 33.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in Fortress Biotech by 14.8% in the second quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock valued at $2,222,000 after purchasing an additional 60,121 shares during the last quarter. Northern Trust Corp increased its stake in Fortress Biotech by 2.1% in the second quarter. Northern Trust Corp now owns 386,435 shares of the biopharmaceutical company’s stock valued at $1,836,000 after purchasing an additional 7,858 shares during the last quarter. Geode Capital Management LLC increased its stake in Fortress Biotech by 3.2% in the first quarter. Geode Capital Management LLC now owns 288,566 shares of the biopharmaceutical company’s stock valued at $1,067,000 after purchasing an additional 8,958 shares during the last quarter. Strs Ohio increased its stake in Fortress Biotech by 301.4% in the third quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock valued at $613,000 after purchasing an additional 104,300 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Fortress Biotech by 365.4% in the third quarter. Wells Fargo & Company MN now owns 119,736 shares of the biopharmaceutical company’s stock valued at $529,000 after purchasing an additional 94,008 shares during the last quarter. Institutional investors own 12.05% of the company’s stock.
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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.
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