Fortress Biotech, Inc. (FBIO) Raised to “Hold” at Zacks Investment Research

Fortress Biotech, Inc. (NASDAQ:FBIO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “

FBIO has been the topic of a number of other research reports. HC Wainwright set a $11.00 target price on shares of Fortress Biotech and gave the company a “buy” rating in a research note on Tuesday, July 11th. Rodman & Renshaw assumed coverage on shares of Fortress Biotech in a research note on Tuesday, July 11th. They issued a “buy” rating and a $11.00 target price on the stock. ValuEngine downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, FBR & Co reissued a “buy” rating on shares of Fortress Biotech in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Fortress Biotech has a consensus rating of “Buy” and a consensus price target of $11.00.

Shares of Fortress Biotech (FBIO) traded up 2.54% during trading on Tuesday, hitting $4.84. 183,520 shares of the company were exchanged. The company’s 50-day moving average price is $4.60 and its 200 day moving average price is $4.22. The stock’s market cap is $244.55 million. Fortress Biotech has a 12 month low of $1.88 and a 12 month high of $5.13.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBIO. Abner Herrman & Brock LLC acquired a new stake in Fortress Biotech during the 2nd quarter valued at $493,000. State Street Corp grew its holdings in Fortress Biotech by 14.8% during the 2nd quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock valued at $2,222,000 after purchasing an additional 60,121 shares in the last quarter. KCG Holdings Inc. acquired a new stake in Fortress Biotech during the 1st quarter valued at $188,000. Strs Ohio acquired a new stake in Fortress Biotech during the 2nd quarter valued at $164,000. Finally, State of Wisconsin Investment Board acquired a new stake in Fortress Biotech during the 2nd quarter valued at $119,000. 11.99% of the stock is owned by institutional investors and hedge funds.

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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