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 subject of a number of other reports. FBR & Co reissued an outperform rating on shares of Fortress Biotech in a research note on Wednesday, July 20th. Roth Capital began coverage on shares of Fortress Biotech in a research note on Monday, October 3rd. They issued a buy rating and a $9.00 price objective for the company.
Shares of Fortress Biotech (NASDAQ:FBIO) opened at 2.82 on Tuesday. The firm’s market capitalization is $137.24 million. The company has a 50-day moving average price of $2.78 and a 200-day moving average price of $2.97. Fortress Biotech has a 12-month low of $2.10 and a 12-month high of $4.66.
Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 predict that Fortress Biotech will post ($1.03) EPS for the current year.
In other news, SVP George Avgerinos sold 48,912 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $2.55, for a total value of $124,725.60. Following the completion of the sale, the senior vice president now owns 293,000 shares in the company, valued at approximately $747,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.54% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in FBIO. Landscape Capital Management L.L.C. raised its stake 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 valued at $215,000 after buying an additional 46,790 shares during the period. ClariVest Asset Management LLC raised its stake 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 valued at $316,000 after buying an additional 41,100 shares during the period. Bank of New York Mellon Corp raised its stake 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 valued at $398,000 after buying an additional 82,525 shares during the period. California State Teachers Retirement System purchased a new stake in Fortress Biotech during the second quarter valued at about $192,000. Finally, Vanguard Group Inc. raised its stake 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 valued at $3,619,000 after buying an additional 91,242 shares during the period. Hedge funds and other institutional investors own 16.67% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fortress Biotech Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech Inc. and related companies with MarketBeat.com's FREE daily email newsletter.