Fortress Biotech (NASDAQ:FBIO) received a $11.00 price target from equities researchers at HC Wainwright in a research note issued on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 237.42% from the company’s current price.
Several other research analysts also recently issued reports on the stock. B. Riley started coverage on shares of Fortress Biotech in a report on Wednesday, February 28th. They set a “buy” rating and a $10.00 price target for the company. ValuEngine upgraded shares of Fortress Biotech from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. BidaskClub upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Sunday, March 11th. Finally, Zacks Investment Research upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.75.
Shares of Fortress Biotech opened at $3.26 on Monday, according to Marketbeat.com. Fortress Biotech has a one year low of $3.14 and a one year high of $5.54. The company has a market cap of $190.98 million, a price-to-earnings ratio of -2.02 and a beta of 0.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52.
Fortress Biotech (NASDAQ:FBIO) last announced 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 during 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%. sell-side analysts anticipate that Fortress Biotech will post -2.31 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in shares of Fortress Biotech during the first quarter worth $126,000. The Manufacturers Life Insurance Company increased its holdings in Fortress Biotech by 264.7% in the first quarter. The Manufacturers Life Insurance Company now owns 30,024 shares of the biopharmaceutical company’s stock valued at $136,000 after purchasing an additional 21,792 shares during the period. Wells Fargo & Company MN increased its holdings in Fortress Biotech by 29.4% in the first quarter. Wells Fargo & Company MN now owns 60,987 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 13,862 shares during the period. HighPoint Advisor Group LLC acquired a new stake in Fortress Biotech in the fourth quarter valued at $416,000. Finally, Strs Ohio increased its holdings in Fortress Biotech by 14.3% in the fourth 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. Institutional investors own 12.41% of the company’s stock.
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.
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