B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Fortress Biotech (FBIO) today and set a price target of $6.00. The company’s shares closed last Monday at $1.38, close to its 52-week low of $1.04.
According to TipRanks.com, Mamtani has currently no stars on a ranking scale of 0-5 stars, with an average return of -19.6% and a 15.1% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Arrowhead Pharmaceuticals, and Spectrum Pharmaceuticals.
Fortress Biotech has an analyst consensus of Moderate Buy, with a price target consensus of $8.50, a 614.3% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.
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Based on Fortress Biotech’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.76 million. In comparison, last year the company had a GAAP net loss of $16.64 million.
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Fortress Biotech, Inc. engages in the development and commercialization of novel pharmaceutical and biotechnology products. It operates through the following segments: Dermatology Product Sales, Pharmaceutical and Biotechnology Product Development, and National. The National segment consists of National Holdings Corporation, an independent brokerage company.
