Bank of New York Mellon Corp Buys 5,170 Shares of Fortress Biotech, Inc. (FBIO)
Bank of New York Mellon Corp increased its stake in shares of Fortress Biotech, Inc. (NASDAQ:FBIO) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,061 shares of the biopharmaceutical company’s stock after buying an additional 5,170 shares during the period. Bank of New York Mellon Corp owned approximately 0.22% of Fortress Biotech worth $408,000 as of its most recent filing with the SEC.
Fortress Biotech, Inc. (FBIO) opened at 4.14 on Friday. The firm has a 50-day moving average price of $4.65 and a 200 day moving average price of $3.69. Fortress Biotech, Inc. has a 12 month low of $1.88 and a 12 month high of $5.07. The company’s market cap is $208.37 million.
Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.06. Fortress Biotech had a negative return on equity of 63.99% and a negative net margin of 269.14%. The firm had revenue of $2.78 million for the quarter, compared to the consensus estimate of $47.04 million. Equities research analysts predict that Fortress Biotech, Inc. will post ($1.20) EPS for the current year.
Several analysts recently weighed in on FBIO shares. HC Wainwright set a $11.00 price target on Fortress Biotech and gave the company a “buy” rating in a report on Tuesday, July 11th. Rodman & Renshaw started coverage on Fortress Biotech in a report on Tuesday, July 11th. They set a “buy” rating and a $11.00 price target on the stock. FBR & Co restated a “buy” rating on shares of Fortress Biotech in a report on Tuesday, July 4th. Zacks Investment Research upgraded Fortress Biotech from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday, June 13th. Finally, ValuEngine upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Fortress Biotech has a consensus rating of “Buy” and a consensus price target of $9.67.
About Fortress Biotech
Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.
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