Shares of Fortress Biotech (NASDAQ:FBIO) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $10.67.
Several research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Fortress Biotech in a research report on Friday, March 16th. ValuEngine raised shares of Fortress Biotech from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. BidaskClub raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Sunday, March 11th. B. Riley assumed coverage on shares of Fortress Biotech in a research report on Wednesday, February 28th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Zacks Investment Research lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st.
Shares of FBIO traded up $0.02 during trading hours on Thursday, reaching $4.37. 179,814 shares of the company traded hands, compared to its average volume of 161,321. The company has a quick ratio of 2.71, a current ratio of 2.72 and a debt-to-equity ratio of 0.44. Fortress Biotech has a 1-year low of $3.13 and a 1-year high of $5.54.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Fortress Biotech by 1.0% during the fourth quarter. BlackRock Inc. now owns 1,787,645 shares of the biopharmaceutical company’s stock worth $7,134,000 after buying an additional 18,384 shares during the last quarter. Strs Ohio grew its stake in Fortress Biotech by 14.3% during the fourth quarter. Strs Ohio now owns 158,700 shares of the biopharmaceutical company’s stock worth $633,000 after buying an additional 19,800 shares during the last quarter. Citadel Advisors LLC bought a new stake in Fortress Biotech during the third quarter worth about $101,000. HighPoint Advisor Group LLC bought a new stake in Fortress Biotech during the fourth quarter worth about $416,000. Finally, State Street Corp grew its stake in Fortress Biotech by 14.8% during the second quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock worth $2,222,000 after buying an additional 60,121 shares during the last quarter. 11.75% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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