Fortress Biotech, Inc. (FBIO) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Fortress Biotech, Inc. (NASDAQ:FBIO) from a sell rating to a hold rating in a research report released on Tuesday, October 10th.

According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “

Several other research firms have also recently weighed in on FBIO. FBR & Co reaffirmed a buy rating on shares of Fortress Biotech in a research note on Tuesday, July 4th. ValuEngine cut Fortress Biotech from a hold rating to a sell rating in a research note on Tuesday, October 3rd. Rodman & Renshaw initiated coverage on Fortress Biotech in a research note on Tuesday, July 11th. They set a buy rating and a $11.00 target price on the stock. Finally, HC Wainwright set a $11.00 target price on Fortress Biotech and gave the company a buy rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $11.00.

Fortress Biotech (NASDAQ:FBIO) opened at 4.29 on Tuesday. The firm’s 50-day moving average is $4.59 and its 200-day moving average is $4.25. Fortress Biotech has a 52 week low of $1.88 and a 52 week high of $5.13. The stock’s market capitalization is $216.76 million.

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Institutional investors have recently made changes to their positions in the company. State of Wisconsin Investment Board acquired a new stake in shares of Fortress Biotech during the 2nd quarter valued at about $119,000. National Asset Management Inc. lifted its holdings in Fortress Biotech by 38.4% in the 2nd quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 8,000 shares during the last quarter. Strs Ohio acquired a new stake in Fortress Biotech in the 2nd quarter worth approximately $164,000. Rhumbline Advisers lifted its holdings in Fortress Biotech by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 1,075 shares during the last quarter. Finally, KCG Holdings Inc. acquired a new stake in Fortress Biotech in the 1st quarter worth approximately $188,000. Institutional investors and hedge funds own 11.78% of the company’s stock.

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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