HC Wainwright Analysts Give Fortress Biotech (FBIO) a $11.00 Price Target

Fortress Biotech (NASDAQ:FBIO) has been assigned a $11.00 price target by equities researchers at HC Wainwright in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 175.69% from the stock’s current price.

FBIO has been the subject of a number of other research reports. ValuEngine downgraded shares of Fortress Biotech from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 26th. Zacks Investment Research upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. 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. The company currently has an average rating of “Buy” and a consensus target price of $11.00.

Shares of Fortress Biotech (FBIO) traded down $0.01 during trading on Tuesday, hitting $3.99. 162,400 shares of the company’s stock were exchanged, compared to its average volume of 168,293. The firm has a market capitalization of $205.67, a P/E ratio of -2.19 and a beta of 1.12. Fortress Biotech has a 1-year low of $2.19 and a 1-year high of $5.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.69 and a current ratio of 2.69.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.24). The firm had revenue of $46.89 million during the quarter, compared to analyst estimates of $50.75 million. Fortress Biotech had a negative return on equity of 61.43% and a negative net margin of 65.80%. The company’s quarterly revenue was up 4709.2% compared to the same quarter last year. sell-side analysts expect that Fortress Biotech will post -1.99 earnings per share for the current fiscal year.

In related news, SVP George Avgerinos sold 12,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $3.55, for a total transaction of $42,600.00. Following the completion of the transaction, the senior vice president now owns 352,495 shares in the company, valued at approximately $1,251,357.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lindsay A. Md Rosenwald purchased 40,000 shares of Fortress Biotech stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the transaction, the chief executive officer now owns 40,000 shares in the company, valued at $1,000,000. The disclosure for this purchase can be found here. 33.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIO. Geode Capital Management LLC raised its position in shares of Fortress Biotech by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 288,566 shares of the biopharmaceutical company’s stock worth $1,067,000 after purchasing an additional 8,958 shares during the last quarter. Rhumbline Advisers raised its holdings in Fortress Biotech by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 1,075 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in Fortress Biotech in the 2nd quarter valued at about $119,000. Northern Trust Corp raised its holdings in Fortress Biotech by 2.1% in the 2nd quarter. Northern Trust Corp now owns 386,435 shares of the biopharmaceutical company’s stock valued at $1,836,000 after acquiring an additional 7,858 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Fortress Biotech by 3.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 1,913 shares during the last quarter. Hedge funds and other institutional investors own 12.05% of the company’s stock.

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About Fortress Biotech

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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