FBR & Co reiterated their buy rating on shares of Fortress Biotech, Inc. (NASDAQ:FBIO) in a research note issued to investors on Tuesday, StockTargetPrices.com reports.
FBIO has been the topic of several other research reports. Zacks Investment Research raised Fortress Biotech from a sell rating to a buy rating and set a $4.50 price objective on the stock in a research note on Monday, May 15th. JMP Securities began coverage on Fortress Biotech in a research note on Wednesday, March 22nd. They issued an outperform rating and a $11.00 price objective on the stock. Finally, ValuEngine raised Fortress Biotech from a sell rating to a hold rating in a research report on Wednesday, June 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $9.00.
Fortress Biotech (NASDAQ:FBIO) traded down 3.3291% on Tuesday, hitting $4.5532. The stock had a trading volume of 26,321 shares. The firm’s market capitalization is $229.17 million. Fortress Biotech has a 1-year low of $1.88 and a 1-year high of $5.05. The stock’s 50-day moving average is $4.27 and its 200 day moving average is $3.33.
Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06. Fortress Biotech had a negative return on equity of 63.99% and a negative net margin of 269.14%. The company had revenue of $2.78 million for the quarter, compared to analysts’ expectations of $47.04 million. On average, equities research analysts predict that Fortress Biotech will post ($1.28) earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in FBIO. ClariVest Asset Management LLC boosted 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 period. 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 in 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 in the last quarter. Finally, KCG Holdings Inc. acquired a new stake in shares of Fortress Biotech during the first quarter valued at approximately $188,000. 12.93% of the stock is currently owned by institutional investors and hedge funds.
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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