Fortress Biotech Inc. (NASDAQ:FBIO) – Stock analysts at Roth Capital lowered their FY2016 earnings estimates for Fortress Biotech in a research report issued on Wednesday. Roth Capital analyst J. Pantginis now forecasts that the brokerage will post earnings of ($1.26) per share for the year, down from their prior forecast of ($1.03). Roth Capital has a “Buy” rating and a $9.00 price objective on the stock. Roth Capital also issued estimates for Fortress Biotech’s Q4 2016 earnings at ($0.32) EPS, FY2017 earnings at ($1.53) EPS, FY2018 earnings at ($1.74) EPS, FY2019 earnings at ($1.74) EPS and FY2020 earnings at ($1.89) EPS.

FBIO has been the topic of several other reports. Zacks Investment Research raised shares of Fortress Biotech from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Tuesday, September 20th. FBR & Co reiterated an “outperform” rating on shares of Fortress Biotech in a report on Wednesday, July 20th.

Fortress Biotech (NASDAQ:FBIO) opened at 2.71 on Monday. Fortress Biotech has a one year low of $2.01 and a one year high of $4.66. The company’s 50 day moving average is $2.65 and its 200 day moving average is $2.81. The stock’s market cap is $132.45 million.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in shares of Fortress Biotech by 999.1% in the second quarter. BlackRock Fund Advisors now owns 893,101 shares of the biopharmaceutical company’s stock valued at $2,402,000 after buying an additional 811,844 shares during the last quarter. State Street Corp boosted its position in shares of Fortress Biotech by 2,170.8% in the second quarter. State Street Corp now owns 268,632 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 256,802 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Fortress Biotech by 129.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 314,920 shares of the biopharmaceutical company’s stock valued at $847,000 after buying an additional 177,930 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of Fortress Biotech by 1,961.8% in the second quarter. BlackRock Investment Management LLC now owns 121,131 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 115,256 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Fortress Biotech by 7.3% in the second quarter. Vanguard Group Inc. now owns 1,345,439 shares of the biopharmaceutical company’s stock valued at $3,619,000 after buying an additional 91,242 shares during the last quarter. Institutional investors own 16.78% of the company’s stock.

In other Fortress Biotech news, SVP George Avgerinos sold 48,912 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $2.55, for a total transaction of $124,725.60. Following the completion of the transaction, the senior vice president now owns 293,000 shares in the company, valued at approximately $747,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.54% of the company’s stock.

Fortress Biotech Company Profile

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.

5 Day Chart for NASDAQ:FBIO

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