Stock analysts at B. Riley started coverage on shares of Fortress Biotech (NASDAQ:FBIO) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $10.00 price target on the biopharmaceutical company’s stock. B. Riley’s target price indicates a potential upside of 146.91% from the company’s current price.
Several other equities research analysts have also recently commented on FBIO. ValuEngine cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Fortress Biotech in a research report on Tuesday, December 5th. Finally, Zacks Investment Research cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $10.80.
Shares of Fortress Biotech (FBIO) opened at $4.05 on Wednesday. The company has a market cap of $208.71, a price-to-earnings ratio of -2.21 and a beta of 0.54. Fortress Biotech has a 52-week low of $3.01 and a 52-week high of $5.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.69 and a quick ratio of 2.69.
A number of hedge funds have recently modified their holdings of FBIO. Northern Trust Corp increased its stake 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 buying an additional 7,858 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake 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 buying an additional 1,913 shares during the last quarter. State Street Corp increased its stake in Fortress Biotech by 14.8% in the 2nd quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock valued at $2,222,000 after buying an additional 60,121 shares during the last quarter. Strs Ohio increased its stake in Fortress Biotech by 301.4% in the 3rd quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock valued at $613,000 after buying an additional 104,300 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Fortress Biotech in the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 11.89% 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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