Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.50.

Several analysts recently commented on FBIO shares. HC Wainwright set a $11.00 target price on Fortress Biotech and gave the stock a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Fortress Biotech from a “sell” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Monday, May 15th. FBR & Co reaffirmed a “buy” rating and set a $11.00 target price on shares of Fortress Biotech in a report on Friday, May 12th. Rodman & Renshaw started coverage on Fortress Biotech in a report on Tuesday, July 11th. They set a “buy” rating and a $11.00 target price on the stock. Finally, ValuEngine raised Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th.

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Fortress Biotech by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 110,061 shares of the biopharmaceutical company’s stock valued at $408,000 after buying an additional 5,170 shares during the last quarter. ClariVest Asset Management LLC raised its stake in shares of Fortress Biotech by 1.0% in the first quarter. ClariVest Asset Management LLC now owns 161,519 shares of the biopharmaceutical company’s stock valued at $598,000 after buying an additional 1,600 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Fortress Biotech by 3.2% in the first quarter. Geode Capital Management LLC now owns 288,566 shares of the biopharmaceutical company’s stock valued at $1,067,000 after buying an additional 8,958 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Fortress Biotech during the first quarter valued at approximately $188,000. Finally, Abner Herrman & Brock LLC acquired a new stake in shares of Fortress Biotech during the second quarter valued at approximately $493,000. 13.12% of the stock is currently owned by institutional investors.

Shares of Fortress Biotech (NASDAQ:FBIO) opened at 4.14 on Friday. Fortress Biotech has a one year low of $1.88 and a one year high of $5.07. The company’s 50 day moving average is $4.65 and its 200 day moving average is $3.69. The company’s market capitalization is $208.37 million.

Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06. The firm had revenue of $2.78 million for the quarter, compared to analyst estimates of $47.04 million. Fortress Biotech had a negative return on equity of 63.99% and a negative net margin of 269.14%. Equities research analysts predict that Fortress Biotech will post ($1.20) earnings per share for the current year.

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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.

Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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