Fortress Biotech (NASDAQ:FBIO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Tuesday. They presently have a $11.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 218.84% from the company’s previous close.

FBIO has been the topic of a number of other reports. Zacks Investment Research lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. ValuEngine downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Fortress Biotech has a consensus rating of “Buy” and a consensus price target of $11.00.

Shares of Fortress Biotech (NASDAQ:FBIO) opened at $3.45 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.42. Fortress Biotech has a twelve month low of $1.88 and a twelve month high of $5.13.

Fortress Biotech (NASDAQ:FBIO) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.24). Fortress Biotech had a negative net margin of 65.80% and a negative return on equity of 61.43%. The company had revenue of $46.89 million during the quarter, compared to the consensus estimate of $50.75 million. The company’s revenue was up 4709.2% compared to the same quarter last year.

In related news, CEO Lindsay A. Md Rosenwald purchased 40,000 shares of Fortress Biotech stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the chief executive officer now directly owns 40,000 shares in the company, valued at $1,000,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.30% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Fortress Biotech by 365.4% in the 3rd quarter. Wells Fargo & Company MN now owns 119,736 shares of the biopharmaceutical company’s stock valued at $529,000 after purchasing an additional 94,008 shares during the period. Citadel Advisors LLC purchased a new position in shares of Fortress Biotech in the 3rd quarter valued at approximately $101,000. Strs Ohio lifted its stake in shares of Fortress Biotech by 301.4% in the 3rd quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock valued at $613,000 after purchasing an additional 104,300 shares during the period. National Asset Management Inc. lifted its stake in shares of Fortress Biotech by 38.4% in the 2nd quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 8,000 shares during the period. Finally, State Street Corp lifted 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 purchasing an additional 60,121 shares during the period. Hedge funds and other institutional investors own 12.05% of the company’s stock.

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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.

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