Fortress Biotech’s (FBIO) Buy Rating Reiterated at HC Wainwright

Fortress Biotech (NASDAQ:FBIO)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $17.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 364.73% from the stock’s current price.

Several other research firms have also commented on FBIO. Zacks Research raised shares of Fortress Biotech from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Fortress Biotech in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Fortress Biotech from a “hold” rating to a “buy” rating in a report on Sunday, November 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fortress Biotech currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Fortress Biotech Trading Up 8.9%

Shares of FBIO stock traded up $0.30 on Monday, hitting $3.66. 13,101,314 shares of the stock traded hands, compared to its average volume of 1,272,661. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.97 and a current ratio of 2.19. Fortress Biotech has a twelve month low of $1.33 and a twelve month high of $4.53. The firm’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $3.07. The stock has a market capitalization of $113.54 million, a PE ratio of -20.06 and a beta of 1.43.

Institutional Trading of Fortress Biotech

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Fortress Biotech by 923.3% in the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 6,426 shares in the last quarter. Visionary Wealth Advisors purchased a new stake in shares of Fortress Biotech in the 4th quarter valued at about $41,000. XTX Topco Ltd acquired a new stake in shares of Fortress Biotech in the 4th quarter valued at about $53,000. Abacus Planning Group Inc. acquired a new stake in shares of Fortress Biotech in the 3rd quarter valued at about $54,000. Finally, Scientech Research LLC purchased a new position in Fortress Biotech during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.