Fortress Biotech (NASDAQ:FBIO) Coverage Initiated by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Fortress Biotech (NASDAQ:FBIOFree Report) in a report issued on Tuesday, Benzinga reports. The brokerage issued a buy rating and a $5.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also commented on FBIO. Roth Mkm started coverage on Fortress Biotech in a report on Friday, March 15th. They set a buy rating and a $10.00 price target on the stock. StockNews.com downgraded Fortress Biotech from a hold rating to a sell rating in a research report on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, Fortress Biotech presently has a consensus rating of Moderate Buy and a consensus target price of $41.25.

Read Our Latest Research Report on FBIO

Fortress Biotech Stock Performance

Shares of FBIO stock opened at $1.94 on Tuesday. The stock’s fifty day moving average is $1.94 and its two-hundred day moving average is $2.70. The firm has a market capitalization of $17.30 million, a P/E ratio of -0.16 and a beta of 1.52. Fortress Biotech has a fifty-two week low of $1.24 and a fifty-two week high of $12.75.

Insider Buying and Selling

In related news, CEO Lindsay A. Md Rosenwald acquired 50,000 shares of the stock in a transaction dated Friday, January 5th. The stock was acquired at an average cost of $2.38 per share, with a total value of $119,000.00. Following the completion of the transaction, the chief executive officer now owns 2,863,905 shares in the company, valued at approximately $6,816,093.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 26.90% of the company’s stock.

Institutional Investors Weigh In On Fortress Biotech

Several large investors have recently modified their holdings of FBIO. Advisor Group Holdings Inc. raised its stake in shares of Fortress Biotech by 113.0% during the first quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 10,620 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Fortress Biotech during the first quarter worth $30,000. Wells Fargo & Company MN grew its holdings in Fortress Biotech by 49.3% during the fourth quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 15,657 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Fortress Biotech by 495.0% during the second quarter. BNP Paribas Arbitrage SA now owns 39,636 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 32,974 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in Fortress Biotech during the first quarter worth $33,000. Hedge funds and other institutional investors own 18.15% of the company’s stock.

Fortress Biotech Company Profile

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Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.

See Also

Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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