B. Riley reissued their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a report published on Monday morning, The Fly reports. They currently have a $9.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $8.00.
FBIO has been the subject of a number of other reports. Cantor Fitzgerald reiterated an overweight rating on shares of Fortress Biotech in a report on Thursday, April 1st. HC Wainwright reiterated a buy rating and set a $10.00 price objective on shares of Fortress Biotech in a research note on Friday, February 26th. Dawson James raised their target price on shares of Fortress Biotech from $16.00 to $21.00 and gave the company a buy rating in a research note on Wednesday, February 17th. Finally, Zacks Investment Research raised Fortress Biotech from a hold rating to a buy rating and set a $4.75 price target on the stock in a research report on Tuesday, March 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $9.75.
NASDAQ FBIO opened at $4.24 on Monday. The company has a market cap of $397.30 million, a PE ratio of -4.99 and a beta of 2.43. The firm’s 50 day moving average price is $4.02 and its 200-day moving average price is $3.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.35 and a current ratio of 6.38. Fortress Biotech has a 52-week low of $1.84 and a 52-week high of $5.08.
Hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp purchased a new stake in Fortress Biotech during the 4th quarter worth approximately $32,000. Federated Hermes Inc. acquired a new stake in shares of Fortress Biotech during the third quarter worth $41,000. Spotlight Asset Group Inc. purchased a new stake in shares of Fortress Biotech during the first quarter valued at $38,000. WMS Partners LLC acquired a new position in shares of Fortress Biotech in the 4th quarter valued at $37,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Fortress Biotech in the 4th quarter valued at $43,000. Institutional investors own 32.13% of the company’s stock.
About Fortress Biotech
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ximino to treat inflammatory lesions of severe acne vulgaris.
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