Roth Mkm Reaffirms “Buy” Rating for Fortress Biotech (NASDAQ:FBIO)

Roth Mkm reiterated their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a research report released on Tuesday morning,Benzinga reports. They currently have a $16.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $15.00.

A number of other research firms have also recently weighed in on FBIO. StockNews.com cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. HC Wainwright boosted their price objective on Fortress Biotech from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Fortress Biotech Stock Performance

NASDAQ FBIO opened at $1.62 on Tuesday. The business’s fifty day moving average is $1.79 and its 200 day moving average is $1.80. The company has a market capitalization of $44.72 million, a PE ratio of -0.53 and a beta of 1.75. Fortress Biotech has a fifty-two week low of $1.36 and a fifty-two week high of $2.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Trading LLC bought a new stake in shares of Fortress Biotech in the fourth quarter worth about $26,000. Weaver Consulting Group increased its stake in Fortress Biotech by 33.0% in the 4th quarter. Weaver Consulting Group now owns 22,998 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 5,700 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Fortress Biotech during the 4th quarter worth approximately $62,000. Jane Street Group LLC bought a new position in shares of Fortress Biotech during the 4th quarter valued at approximately $69,000. Finally, PFG Investments LLC grew its holdings in shares of Fortress Biotech by 82.8% in the fourth quarter. PFG Investments LLC now owns 35,259 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 15,968 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

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.