Fortress Biotech (NASDAQ:FBIO) Earns “Speculative Buy” Rating from Benchmark

Posted by on Apr 8th, 2023

Fortress Biotech (NASDAQ:FBIO – Get Rating)‘s stock had its “speculative buy” rating reiterated by Benchmark in a report released on Thursday, Benzinga reports. They presently have a $5.00 price target on the biopharmaceutical company’s stock.

FBIO has been the topic of several other research reports. StockNews.com raised Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Saturday, April 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a research report on Monday, April 3rd. Finally, Roth Capital reissued a “buy” rating on shares of Fortress Biotech in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fortress Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $5.75.

Fortress Biotech Price Performance

Fortress Biotech stock opened at $0.73 on Thursday. Fortress Biotech has a 12 month low of $0.48 and a 12 month high of $1.39. The stock’s 50 day moving average is $0.76 and its 200-day moving average is $0.77. The company has a current ratio of 2.43, a quick ratio of 2.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $94.08 million, a price-to-earnings ratio of -0.75 and a beta of 2.00.

Institutional Investors Weigh In On Fortress Biotech

Large investors have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. boosted its holdings in shares of Fortress Biotech by 3.8% in the 4th quarter. Perkins Capital Management Inc. now owns 822,513 shares of the biopharmaceutical company’s stock valued at $539,000 after purchasing an additional 30,000 shares in the last quarter. 1900 Wealth Management LLC acquired a new stake in shares of Fortress Biotech in the 3rd quarter valued at $86,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Fortress Biotech by 495.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 39,636 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 32,974 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Fortress Biotech during the 1st quarter valued at $33,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Fortress Biotech by 49.3% during the 4th quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 15,657 shares in the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

Fortress Biotech Company Profile

(Get Rating)

Fortress Biotech, Inc engages in the manufacture and commercialization of novel pharmaceutical products and product candidates. It operates through the Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development segments. Its products include Ximino, Targadox, Exelderm, Ceracade, and Luxamend.

Featured Stories

Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.