Fortress Biotech, Inc. (NASDAQ:FBIO) has received an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $10.50.

Several analysts have recently issued reports on the company. HC Wainwright set a $11.00 price objective on Fortress Biotech and gave the stock a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research cut Fortress Biotech from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. ValuEngine raised Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Rodman & Renshaw assumed coverage on Fortress Biotech in a report on Tuesday, July 11th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, FBR & Co reaffirmed a “buy” rating on shares of Fortress Biotech in a report on Tuesday, July 4th.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBIO. Bank of New York Mellon Corp increased its position in shares of Fortress Biotech by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 110,061 shares of the biopharmaceutical company’s stock valued at $408,000 after purchasing an additional 5,170 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Fortress Biotech by 1.0% during the 1st quarter. ClariVest Asset Management LLC now owns 161,519 shares of the biopharmaceutical company’s stock valued at $598,000 after purchasing an additional 1,600 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fortress Biotech by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 288,566 shares of the biopharmaceutical company’s stock valued at $1,067,000 after purchasing an additional 8,958 shares during the last quarter. KCG Holdings Inc. bought a new position in shares of Fortress Biotech during the 1st quarter valued at approximately $188,000. Finally, Abner Herrman & Brock LLC bought a new position in shares of Fortress Biotech during the 2nd quarter valued at approximately $493,000. 11.99% of the stock is currently owned by hedge funds and other institutional investors.

Fortress Biotech (FBIO) opened at 4.40 on Friday. The firm’s 50-day moving average is $4.44 and its 200-day moving average is $4.12. The company’s market capitalization is $222.32 million. Fortress Biotech has a 12 month low of $1.88 and a 12 month high of $5.13.

Fortress Biotech Company Profile

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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