Fortress Biotech Inc (FBIO) Given Average Rating of “Hold” by Brokerages

Fortress Biotech Inc (NASDAQ:FBIO) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.00.

Several research firms have weighed in on FBIO. Zacks Investment Research lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, HC Wainwright set a $11.00 price target on Fortress Biotech and gave the stock a “buy” rating in a research report on Tuesday, December 12th.

Shares of Fortress Biotech (NASDAQ:FBIO) opened at $3.42 on Wednesday. Fortress Biotech has a 1 year low of $2.68 and a 1 year high of $5.13. The stock has a market capitalization of $177.80, a P/E ratio of -1.87 and a beta of 0.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.69 and a quick ratio of 2.69.

In other Fortress Biotech news, SVP George Avgerinos sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $3.55, for a total transaction of $42,600.00. Following the transaction, the senior vice president now owns 352,495 shares of the company’s stock, valued at approximately $1,251,357.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.30% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC increased its position in shares of Fortress Biotech by 3.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 1,913 shares during the last quarter. Northern Trust Corp increased its position 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 purchasing an additional 7,858 shares during the last quarter. BlackRock Inc. increased its position in shares of Fortress Biotech by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,787,645 shares of the biopharmaceutical company’s stock worth $7,134,000 after purchasing an additional 18,384 shares during the last quarter. Strs Ohio increased its position in shares of Fortress Biotech by 14.3% during the 4th quarter. Strs Ohio now owns 158,700 shares of the biopharmaceutical company’s stock worth $633,000 after purchasing an additional 19,800 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Fortress Biotech during the 3rd quarter worth approximately $101,000. 11.89% of the stock is currently owned by hedge funds and other 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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