Fortress Biotech (FBIO) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Fortress Biotech (NASDAQ:FBIO) from a sell rating to a hold rating in a research note released on Sunday, March 11th.

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. HC Wainwright set a $11.00 target price on shares of Fortress Biotech and gave the stock a buy rating in a research report on Tuesday, January 2nd. Zacks Investment Research lowered shares of Fortress Biotech from a hold rating to a sell rating in a research report on Monday, February 19th. Finally, B. Riley began coverage on shares of Fortress Biotech in a research report on Wednesday, February 28th. They set a buy rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $10.75.

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Shares of FBIO stock traded down $0.26 during trading hours on Friday, hitting $4.82. The company’s stock had a trading volume of 93,457 shares, compared to its average volume of 161,302. The firm has a market capitalization of $261.85, a PE ratio of -2.99 and a beta of 0.23. Fortress Biotech has a twelve month low of $3.13 and a twelve month high of $5.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.72 and a quick ratio of 2.71.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new position in Fortress Biotech during the third quarter worth approximately $101,000. Parametric Portfolio Associates LLC raised its stake in Fortress Biotech by 3.3% during the second quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 1,913 shares during the period. HighPoint Advisor Group LLC purchased a new position in Fortress Biotech during the fourth quarter worth approximately $416,000. Wells Fargo & Company MN raised its stake in Fortress Biotech by 365.4% during 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. Finally, Strs Ohio raised its stake in Fortress Biotech by 14.3% during the fourth quarter. Strs Ohio now owns 158,700 shares of the biopharmaceutical company’s stock worth $633,000 after purchasing an additional 19,800 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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Fortress Biotech Company Profile

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.

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