Fortress Biotech, Inc. (NASDAQ:FBIO) Given Average Rating of “Buy” by Analysts

Shares of Fortress Biotech, Inc. (NASDAQ:FBIOGet Free Report) have earned an average recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $41.25.

Several research analysts recently commented on FBIO shares. Roth Mkm assumed coverage on shares of Fortress Biotech in a research note on Friday, March 15th. They issued a “buy” rating and a $10.00 price target on the stock. StockNews.com cut Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, Alliance Global Partners initiated coverage on Fortress Biotech in a research report on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price for the company.

View Our Latest Analysis on FBIO

Fortress Biotech Stock Down 1.8 %

Shares of FBIO opened at $1.94 on Tuesday. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $12.75. The company has a market cap of $17.30 million, a PE ratio of -0.16 and a beta of 1.52. The business has a fifty day moving average of $1.94 and a 200 day moving average of $2.68.

Insider Transactions at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald acquired 50,000 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were acquired at an average price of $2.38 per share, with a total value of $119,000.00. Following the purchase, the chief executive officer now directly owns 2,863,905 shares of the company’s stock, valued at $6,816,093.90. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 26.90% of the company’s stock.

Hedge Funds Weigh In On Fortress Biotech

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. purchased a new position in Fortress Biotech during the first quarter worth approximately $33,000. Advisor Group Holdings Inc. increased its position in 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. Acadian Asset Management LLC raised its stake in Fortress Biotech by 169.1% during the first quarter. Acadian Asset Management LLC now owns 424,693 shares of the biopharmaceutical company’s stock worth $575,000 after purchasing an additional 266,853 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Fortress Biotech by 7.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 12,966 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Fortress Biotech by 1,005.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock valued at $1,498,000 after buying an additional 1,001,653 shares during the period. Institutional investors and hedge funds own 18.15% of the company’s stock.

About Fortress Biotech

(Get Free Report

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.

Further Reading

Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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