Fortress Biotech, Inc. (NASDAQ:FBIO) Receives Average Rating of “Buy” from Brokerages

Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) have been given an average recommendation of “Buy” by the five analysts that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $41.25.

A number of equities research analysts have recently weighed in on FBIO shares. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Alliance Global Partners started coverage on Fortress Biotech in a research report on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Roth Mkm initiated coverage on shares of Fortress Biotech in a report on Friday, March 15th. They issued a “buy” rating and a $10.00 target price on the stock.

Insider Buying and Selling at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald purchased 50,000 shares of Fortress Biotech stock in a transaction that occurred on Friday, January 5th. The shares were bought at an average cost of $2.38 per share, with a total value of $119,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,863,905 shares in the company, valued at $6,816,093.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 26.90% of the company’s stock.

Institutional Trading of Fortress Biotech

A number of hedge funds have recently made changes to their positions in FBIO. Envestnet Asset Management Inc. purchased a new stake in shares of Fortress Biotech in the first quarter worth $33,000. Advisor Group Holdings Inc. increased its stake in Fortress Biotech by 113.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 10,620 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Fortress Biotech by 169.1% in the first quarter. Acadian Asset Management LLC now owns 424,693 shares of the biopharmaceutical company’s stock worth $575,000 after buying an additional 266,853 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fortress Biotech by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 12,966 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Fortress Biotech by 1,005.2% in the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 1,001,653 shares in the last quarter. 18.15% of the stock is owned by institutional investors.

Fortress Biotech Stock Performance

Shares of Fortress Biotech stock opened at $1.94 on Tuesday. The stock has a market capitalization of $17.30 million, a price-to-earnings ratio of -0.16 and a beta of 1.52. The company has a fifty day moving average of $1.94 and a 200-day moving average of $2.68. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $12.75.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.