HC Wainwright Issues Positive Forecast for Fortress Biotech (NASDAQ:FBIO) Stock Price

Fortress Biotech (NASDAQ:FBIOFree Report) had its price target increased by HC Wainwright from $24.00 to $26.00 in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Separately, StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

Check Out Our Latest Stock Analysis on FBIO

Fortress Biotech Price Performance

Shares of FBIO stock opened at $1.48 on Monday. The firm has a market cap of $33.76 million, a PE ratio of -0.49 and a beta of 1.75. Fortress Biotech has a 1-year low of $1.36 and a 1-year high of $4.43. The company has a 50-day moving average of $1.70 and a two-hundred day moving average of $1.83.

Insider Transactions at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald acquired 763,359 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $1.84 per share, for a total transaction of $1,404,580.56. Following the transaction, the chief executive officer now directly owns 3,657,264 shares in the company, valued at approximately $6,729,365.76. This represents a 26.38 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Fortress Biotech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Fortress Biotech in the first quarter valued at $31,000. Integrated Wealth Concepts LLC raised its stake in Fortress Biotech by 68.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 18,700 shares during the last quarter. Atria Investments Inc raised its stake in Fortress Biotech by 58.4% in the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 26,351 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in Fortress Biotech in the 2nd quarter valued at about $107,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Fortress Biotech in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Fortress Biotech

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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.

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