ValuEngine Upgrades Fortress Biotech (FBIO) to “Buy”

ValuEngine upgraded shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a buy rating in a research note published on Wednesday.

Several other research analysts have also issued reports on FBIO. Zacks Investment Research lowered shares of Fortress Biotech from a hold rating to a sell rating in a report on Wednesday, January 31st. HC Wainwright set a $11.00 price target on shares of Fortress Biotech and gave the stock a buy rating in a report on Tuesday, March 27th. BidaskClub upgraded shares of Fortress Biotech from a sell rating to a hold rating in a report on Sunday, March 11th. Finally, B. Riley began coverage on shares of Fortress Biotech in a report on Wednesday, February 28th. They set a buy rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Fortress Biotech currently has a consensus rating of Buy and an average target price of $10.75.

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Fortress Biotech stock opened at $4.82 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.71 and a current ratio of 2.72. Fortress Biotech has a 52-week low of $3.13 and a 52-week high of $5.54.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Fortress Biotech by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,787,645 shares of the biopharmaceutical company’s stock worth $7,134,000 after purchasing an additional 18,384 shares during the last quarter. Strs Ohio raised its holdings in Fortress Biotech by 14.3% during the 4th quarter. Strs Ohio now owns 158,700 shares of the biopharmaceutical company’s stock worth $633,000 after purchasing an additional 19,800 shares during the last quarter. Citadel Advisors LLC bought a new position in Fortress Biotech during the 3rd quarter worth approximately $101,000. HighPoint Advisor Group LLC bought a new position in Fortress Biotech during the 4th quarter worth approximately $416,000. Finally, State Street Corp increased its stake in shares of 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 acquiring an additional 60,121 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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Fortress Biotech Company Profile

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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