Shares of Fortress Biotech Inc. (NASDAQ:FBIO) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus target price of $11.00 for the company and are expecting that the company will post ($0.21) earnings per share for the current quarter, according to Zacks. Zacks has also given Fortress Biotech an industry rank of 92 out of 265 based on the ratings given to its competitors.
A number of equities analysts have recently weighed in on FBIO shares. FBR & Co reiterated an “outperform” rating on shares of Fortress Biotech in a report on Wednesday, July 20th. Zacks Investment Research upgraded Fortress Biotech from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Tuesday, September 20th. Finally, Roth Capital started coverage on Fortress Biotech in a report on Monday. They issued a “buy” rating and a $9.00 target price on the stock.
In related news, SVP George Avgerinos sold 48,912 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $2.55, for a total value of $124,725.60. Following the transaction, the senior vice president now owns 293,000 shares in the company, valued at $747,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 31.54% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in FBIO. Landscape Capital Management L.L.C. increased its position in Fortress Biotech by 208.0% in the first quarter. Landscape Capital Management L.L.C. now owns 69,290 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 46,790 shares in the last quarter. ClariVest Asset Management LLC increased its position in Fortress Biotech by 53.6% in the second quarter. ClariVest Asset Management LLC now owns 117,719 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 41,100 shares in the last quarter. Bank of New York Mellon Corp increased its position in Fortress Biotech by 125.8% in the second quarter. Bank of New York Mellon Corp now owns 148,103 shares of the biopharmaceutical company’s stock worth $398,000 after buying an additional 82,525 shares in the last quarter. California State Teachers Retirement System purchased a new position in Fortress Biotech during the second quarter worth approximately $192,000. Finally, Vanguard Group Inc. increased its position in Fortress Biotech by 7.3% in the second quarter. Vanguard Group Inc. now owns 1,345,439 shares of the biopharmaceutical company’s stock worth $3,619,000 after buying an additional 91,242 shares in the last quarter. Hedge funds and other institutional investors own 16.67% of the company’s stock.
Fortress Biotech (NASDAQ:FBIO) opened at 3.01 on Thursday. Fortress Biotech has a 52-week low of $2.10 and a 52-week high of $4.66. The stock’s 50 day moving average is $2.77 and its 200-day moving average is $2.97. The firm’s market capitalization is $146.49 million.
Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.02. Fortress Biotech had a negative net margin of 1,687.06% and a negative return on equity of 79.62%. Equities analysts expect that Fortress Biotech will post ($1.03) earnings per share for the current year.
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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