Fortress Biotech’s (FBIO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a report published on Monday,Benzinga reports. The firm currently has a $17.00 price target on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on FBIO. Zacks Research raised shares of Fortress Biotech from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fortress Biotech in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Fortress Biotech from a “hold” rating to a “buy” rating in a research report on Sunday, November 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Fortress Biotech presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Fortress Biotech Stock Up 2.7%

Shares of NASDAQ:FBIO opened at $3.45 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.97 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $3.09. Fortress Biotech has a 12-month low of $1.33 and a 12-month high of $4.53. The stock has a market capitalization of $107.09 million, a price-to-earnings ratio of -19.17 and a beta of 1.43.

Institutional Trading of Fortress Biotech

Several large investors have recently modified their holdings of the company. Opaleye Management Inc. purchased a new stake in shares of Fortress Biotech during the 4th quarter valued at about $3,989,000. Vanguard Group Inc. lifted its position in Fortress Biotech by 11.4% during the third quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after purchasing an additional 97,405 shares in the last quarter. Geode Capital Management LLC lifted its position in Fortress Biotech by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 262,492 shares of the biopharmaceutical company’s stock valued at $961,000 after purchasing an additional 18,071 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in Fortress Biotech during the fourth quarter valued at about $667,000. Finally, HB Wealth Management LLC purchased a new stake in Fortress Biotech in the third quarter worth about $444,000. Institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.