Fortress Biotech’s (FBIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a report published on Monday morning,Benzinga reports. The firm currently has a $17.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on FBIO. Wall Street Zen upgraded Fortress Biotech from a “hold” rating to a “buy” rating in a report on Sunday, November 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Fortress Biotech in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Fortress Biotech from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Fortress Biotech Price Performance

NASDAQ:FBIO opened at $3.55 on Monday. The business’s 50-day simple moving average is $3.59 and its two-hundred day simple moving average is $3.10. Fortress Biotech has a 52 week low of $1.33 and a 52 week high of $4.53. The stock has a market cap of $110.19 million, a PE ratio of -19.72 and a beta of 1.43. The company has a quick ratio of 1.97, a current ratio of 2.19 and a debt-to-equity ratio of 0.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. 180 Wealth Advisors LLC grew its holdings in shares of Fortress Biotech by 6.4% during the second quarter. 180 Wealth Advisors LLC now owns 93,050 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 5,600 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Fortress Biotech in the second quarter valued at about $42,000. Panagora Asset Management Inc. purchased a new position in shares of Fortress Biotech in the second quarter worth about $93,000. Osaic Holdings Inc. lifted its holdings in shares of Fortress Biotech by 18.4% during the second quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 5,034 shares during the period. Finally, Sheets Smith Investment Management purchased a new stake in Fortress Biotech in the third quarter valued at approximately $270,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.