Fortress Biotech (NASDAQ:FBIO) received a $11.00 price objective from HC Wainwright in a report released on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 201.37% from the company’s previous close.

Other analysts have also issued reports about the stock. ValuEngine lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Fortress Biotech has a consensus rating of “Buy” and a consensus target price of $11.00.

Shares of Fortress Biotech (FBIO) traded up $0.01 during midday trading on Tuesday, reaching $3.65. 67,200 shares of the company traded hands, compared to its average volume of 169,476. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.69 and a quick ratio of 2.69. Fortress Biotech has a 12 month low of $1.88 and a 12 month high of $5.13.

Fortress Biotech (NASDAQ:FBIO) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.24). The business had revenue of $46.89 million for the quarter, compared to the consensus estimate of $50.75 million. Fortress Biotech had a negative net margin of 65.80% and a negative return on equity of 61.43%. The business’s revenue for the quarter was up 4709.2% compared to the same quarter last year. equities research analysts anticipate that Fortress Biotech will post -1.99 EPS for the current year.

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief executive officer now owns 40,000 shares of the company’s stock, valued at approximately $1,000,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 33.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FBIO. Strs Ohio boosted its position in shares of Fortress Biotech by 301.4% in the third quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock worth $613,000 after purchasing an additional 104,300 shares during the period. Wells Fargo & Company MN boosted its position in shares of Fortress Biotech by 365.4% in the third quarter. Wells Fargo & Company MN now owns 119,736 shares of the biopharmaceutical company’s stock worth $529,000 after purchasing an additional 94,008 shares during the period. State Street Corp boosted its position in shares of Fortress Biotech by 14.8% in the second quarter. State Street Corp now owns 467,711 shares of the biopharmaceutical company’s stock worth $2,222,000 after purchasing an additional 60,121 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Fortress Biotech in the second quarter worth approximately $119,000. Finally, Citadel Advisors LLC bought a new position in shares of Fortress Biotech in the third quarter worth approximately $101,000. Institutional investors and hedge funds 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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