FBR & Co Reiterates Buy Rating for Fortress Biotech Inc. (FBIO)
Fortress Biotech Inc. (NASDAQ:FBIO)‘s stock had its “buy” rating reaffirmed by stock analysts at FBR & Co in a note issued to investors on Friday.
Other equities analysts also recently issued research reports about the company. Roth Capital initiated coverage on Fortress Biotech in a research report on Monday, October 3rd. They set a “buy” rating and a $9.00 price target for the company. Zacks Investment Research raised Fortress Biotech from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Tuesday, September 20th.
Shares of Fortress Biotech (NASDAQ:FBIO) opened at 2.63 on Friday. The stock’s market cap is $128.54 million. Fortress Biotech has a one year low of $2.01 and a one year high of $4.66. The firm’s 50-day moving average price is $2.59 and its 200 day moving average price is $2.76.
In other news, SVP George Avgerinos sold 48,912 shares of Fortress Biotech stock in a transaction on Friday, September 16th. The stock was sold at an average price of $2.55, for a total value of $124,725.60. Following the completion of the sale, the senior vice president now owns 293,000 shares of the company’s stock, valued at $747,150. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 31.54% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Teachers Advisors Inc. acquired a new stake in shares of Fortress Biotech during the second quarter worth approximately $146,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Fortress Biotech during the second quarter worth approximately $154,000. Parametric Portfolio Associates LLC increased its stake in shares of Fortress Biotech by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 57,196 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 344 shares in the last quarter. California State Teachers Retirement System acquired a new stake in shares of Fortress Biotech during the second quarter worth approximately $192,000. Finally, ClariVest Asset Management LLC increased its stake in shares of Fortress Biotech by 53.6% in the second quarter. ClariVest Asset Management LLC now owns 117,719 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 41,100 shares in the last quarter. 16.75% of the stock is owned by institutional investors and hedge funds.
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.
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