HC Wainwright set a $11.00 target price on Fortress Biotech (NASDAQ:FBIO) in a research note issued to investors on Tuesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

FBIO has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Fortress Biotech from a sell rating to a hold rating in a research note on Tuesday, October 10th. ValuEngine downgraded shares of Fortress Biotech from a hold rating to a sell rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $11.00.

Shares of Fortress Biotech (NASDAQ:FBIO) traded down $0.08 during midday trading on Tuesday, reaching $3.44. 178,230 shares of the company were exchanged, compared to its average volume of 81,475. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.69 and a quick ratio of 2.69. Fortress Biotech has a 12-month low of $1.88 and a 12-month high of $5.13.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.24). Fortress Biotech had a negative return on equity of 61.43% and a negative net margin of 65.80%. The business had revenue of $46.89 million for the quarter, compared to analyst estimates of $50.75 million. The business’s revenue for the quarter was up 4709.2% on a year-over-year basis. sell-side analysts expect that Fortress Biotech will post -1.99 earnings per share for the current year.

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald acquired 40,000 shares of Fortress Biotech stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the purchase, the chief executive officer now directly owns 40,000 shares in the company, valued at approximately $1,000,000. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP George Avgerinos sold 25,593 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $3.59, for a total transaction of $91,878.87. Following the transaction, the senior vice president now owns 409,088 shares of the company’s stock, valued at $1,468,625.92. The disclosure for this sale can be found here. Corporate insiders own 33.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Fortress Biotech in the 3rd quarter valued at about $101,000. State of Wisconsin Investment Board bought a new stake in shares of Fortress Biotech in the 2nd quarter valued at about $119,000. National Asset Management Inc. raised its holdings in shares of Fortress Biotech by 38.4% in the 2nd quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 8,000 shares during the period. Strs Ohio bought a new stake in shares of Fortress Biotech in the 2nd quarter valued at about $164,000. Finally, Rhumbline Advisers raised its holdings in shares of Fortress Biotech by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 1,075 shares during the period. 12.05% of the stock is currently owned by institutional investors.

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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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