Fortress Biotech (NASDAQ:FBIO) Upgraded to “Buy” by ValuEngine

Fortress Biotech (NASDAQ:FBIO) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Wednesday, April 4th.

Several other analysts have also commented on the stock. HC Wainwright set a $11.00 price target on shares of Fortress Biotech and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Zacks Investment Research lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. B. Riley began coverage on shares of Fortress Biotech in a research report on Wednesday, February 28th. They set a “buy” rating and a $10.00 target price on the stock. Finally, BidaskClub upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Sunday, March 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $10.75.

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Fortress Biotech stock traded down $0.38 during mid-day trading on Wednesday, reaching $4.43. The company had a trading volume of 44,422 shares, compared to its average volume of 159,225. Fortress Biotech has a 1 year low of $3.13 and a 1 year high of $5.54. The company has a current ratio of 2.72, a quick ratio of 2.71 and a debt-to-equity ratio of 0.44. The stock has a market cap of $234.63, a PE ratio of -2.99 and a beta of 0.23.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in 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 buying an additional 18,384 shares during the period. Strs Ohio increased its position 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 worth $633,000 after purchasing an additional 19,800 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Fortress Biotech in the 3rd quarter worth about $101,000. HighPoint Advisor Group LLC bought a new stake in shares of Fortress Biotech in the 4th quarter worth about $416,000. Finally, State Street Corp increased its position in shares of 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 purchasing an additional 60,121 shares during the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

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Fortress Biotech Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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