HC Wainwright set a $11.00 price objective on Fortress Biotech (NASDAQ:FBIO) in a research note published on Monday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Fortress Biotech from a hold rating to a sell rating in a report on Wednesday, May 16th. ValuEngine raised shares of Fortress Biotech from a hold rating to a buy rating in a report on Wednesday, April 4th. B. Riley began coverage on shares of Fortress Biotech in a report on Wednesday, February 28th. They issued a buy rating and a $10.00 price objective on the stock. Finally, BidaskClub raised shares of Fortress Biotech from a sell rating to a hold rating in a report on Sunday, March 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $10.75.
FBIO stock opened at $3.26 on Monday. The firm has a market capitalization of $186.22 million, a PE ratio of -2.02 and a beta of 0.22. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. Fortress Biotech has a 12 month low of $3.14 and a 12 month high of $5.54.
Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings data on Friday, March 16th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.36. The business had revenue of $45.32 million for the quarter, compared to the consensus estimate of $48.03 million. Fortress Biotech had a negative net margin of 49.31% and a negative return on equity of 60.74%. research analysts expect that Fortress Biotech will post -2.31 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Fortress Biotech by 1.0% in the 4th quarter. BlackRock Inc. now owns 1,787,645 shares of the biopharmaceutical company’s stock valued at $7,134,000 after purchasing an additional 18,384 shares during the period. Opaleye Management Inc. acquired a new position in shares of Fortress Biotech in the 1st quarter valued at $1,433,000. Strs Ohio lifted its stake in shares of Fortress Biotech by 14.3% in the 4th quarter. Strs Ohio now owns 158,700 shares of the biopharmaceutical company’s stock valued at $633,000 after purchasing an additional 19,800 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Fortress Biotech by 365.4% in the 3rd 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 period. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Fortress Biotech in the 4th quarter valued at $416,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.
About Fortress Biotech
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.
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