HC Wainwright Boosts Fortress Biotech (NASDAQ:FBIO) Price Target to $26.00

Fortress Biotech (NASDAQ:FBIO) had its price target boosted by HC Wainwright from $24.00 to $26.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

Separately, StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

Fortress Biotech Stock Up 7.4 %

Fortress Biotech stock opened at $1.59 on Monday. The business has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $1.83. The stock has a market cap of $43.88 million, a price-to-earnings ratio of -0.52 and a beta of 1.75. Fortress Biotech has a 12 month low of $1.36 and a 12 month high of $4.43.

Insider Transactions at Fortress Biotech

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald acquired 763,359 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average price of $1.84 per share, with a total value of $1,404,580.56. Following the purchase, the chief executive officer now owns 3,657,264 shares of the company’s stock, valued at $6,729,365.76. This represents a 26.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 33.40% of the stock is owned by corporate insiders.

Institutional Trading of Fortress Biotech

Several hedge funds have recently added to or reduced their stakes in FBIO. Virtu Financial LLC bought a new stake in shares of Fortress Biotech during the first quarter worth approximately $31,000. Integrated Wealth Concepts LLC increased its holdings in shares of Fortress Biotech by 68.2% during the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 18,700 shares in the last quarter. 180 Wealth Advisors LLC bought a new stake in shares of Fortress Biotech in the second quarter worth $107,000. Atria Investments Inc boosted its position in Fortress Biotech by 58.4% during the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 26,351 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Fortress Biotech during the second quarter valued at $207,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.