Brokerages Set Fortress Biotech, Inc. (NASDAQ:FBIO) Target Price at $5.67

Posted by on Apr 10th, 2023

Fortress Biotech, Inc. (NASDAQ:FBIO – Get Rating) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.67.

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a research note on Monday, April 3rd. Benchmark reaffirmed a “speculative buy” rating and set a $5.00 target price on shares of Fortress Biotech in a research report on Thursday. Roth Capital reaffirmed a “buy” rating on shares of Fortress Biotech in a research report on Tuesday, April 4th. Finally, StockNews.com raised Fortress Biotech from a “sell” rating to a “hold” rating in a report on Saturday, April 1st.

Institutional Investors Weigh In On Fortress Biotech

Hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in Fortress Biotech by 113.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 10,620 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Fortress Biotech by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock valued at $272,000 after buying an additional 12,966 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Fortress Biotech by 26.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,794 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 14,652 shares during the last quarter. Morgan Stanley grew its position in Fortress Biotech by 16.7% during the fourth quarter. Morgan Stanley now owns 107,579 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 15,392 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Fortress Biotech by 49.3% in the fourth quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 15,657 shares during the period. 27.91% of the stock is owned by institutional investors and hedge funds.

Fortress Biotech Stock Performance

Shares of NASDAQ:FBIO opened at $0.73 on Friday. The firm has a market capitalization of $94.08 million, a PE ratio of -0.75 and a beta of 2.00. Fortress Biotech has a 12 month low of $0.48 and a 12 month high of $1.39. The business has a 50-day moving average of $0.76 and a two-hundred day moving average of $0.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.43 and a quick ratio of 2.28.

Fortress Biotech Company Profile

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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.

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Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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