Fortress Biotech (NASDAQ:FBIO) received a $11.00 price target from 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 171.60% from the company’s current price.
A number of other research firms also recently weighed in on FBIO. Zacks Investment Research downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. ValuEngine downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. One 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. The stock presently has a consensus rating of “Buy” and an average target price of $11.00.
Fortress Biotech (NASDAQ:FBIO) traded up $0.04 on Tuesday, hitting $4.05. The stock had a trading volume of 91,566 shares, compared to its average volume of 127,585. Fortress Biotech has a 52 week low of $2.29 and a 52 week high of $5.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a market cap of $205.16, a P/E ratio of -2.23 and a beta of 1.11.
Fortress Biotech (NASDAQ:FBIO) last posted its quarterly 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 firm’s revenue was up 4709.2% on a year-over-year basis. equities analysts forecast that Fortress Biotech will post -1.99 earnings per share for the current year.
In other Fortress Biotech news, SVP George Avgerinos sold 25,593 shares of Fortress Biotech stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $3.59, for a total value of $91,878.87. Following the transaction, the senior vice president now directly owns 409,088 shares of the company’s stock, valued at approximately $1,468,625.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief executive officer now owns 40,000 shares in the company, valued at $1,000,000. The disclosure for this purchase can be found here. 33.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FBIO. Strs Ohio increased its position in Fortress Biotech by 301.4% in the 3rd quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock worth $613,000 after buying an additional 104,300 shares during the period. Wells Fargo & Company MN increased its position in Fortress Biotech by 365.4% in the 3rd quarter. Wells Fargo & Company MN now owns 119,736 shares of the biopharmaceutical company’s stock worth $529,000 after buying an additional 94,008 shares during the period. State Street Corp increased its position in Fortress Biotech by 14.8% in 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 during the period. State of Wisconsin Investment Board bought a new position in Fortress Biotech in the 2nd quarter worth approximately $119,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Fortress Biotech during the 3rd quarter worth approximately $101,000. 12.05% of the stock is currently owned by institutional investors.
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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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