Roth Mkm Reaffirms Buy Rating for Fortress Biotech (NASDAQ:FBIO)

Fortress Biotech (NASDAQ:FBIO)‘s stock had its “buy” rating restated by Roth Mkm in a report released on Tuesday,Benzinga reports. They presently have a $16.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $15.00.

Other equities analysts have also issued reports about the company. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. HC Wainwright upped their target price on shares of Fortress Biotech from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Fortress Biotech currently has an average rating of “Moderate Buy” and an average target price of $15.67.

Fortress Biotech Stock Up 0.6 %

FBIO stock traded up $0.01 during midday trading on Tuesday, reaching $1.75. The company’s stock had a trading volume of 180,904 shares, compared to its average volume of 406,828. The business’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $1.81. Fortress Biotech has a 52 week low of $1.36 and a 52 week high of $2.89. The stock has a market cap of $48.31 million, a PE ratio of -0.57 and a beta of 1.75.

Institutional Investors Weigh In On Fortress Biotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PVG Asset Management Corp increased its holdings in Fortress Biotech by 140.1% during the third quarter. PVG Asset Management Corp now owns 373,790 shares of the biopharmaceutical company’s stock worth $540,000 after buying an additional 218,115 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Fortress Biotech by 125.1% during the 4th quarter. Renaissance Technologies LLC now owns 175,800 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 97,712 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Fortress Biotech by 30.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 239,594 shares of the biopharmaceutical company’s stock valued at $485,000 after purchasing an additional 55,648 shares during the period. Two Sigma Investments LP acquired a new stake in Fortress Biotech in the 4th quarter valued at about $109,000. Finally, HB Wealth Management LLC grew its holdings in Fortress Biotech by 93.1% during the fourth quarter. HB Wealth Management LLC now owns 106,850 shares of the biopharmaceutical company’s stock worth $232,000 after purchasing an additional 51,517 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.