Fortress Biotech (NASDAQ:FBIO – Free 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
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
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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