B.Riley Financial analyst Mayank Mamtani reiterated a Buy rating on Fortress Biotech (FBIO) today and set a price target of $8.00. The company’s shares closed last Friday at $2.52.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 33.9% and a 53.0% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Spectrum Pharmaceuticals.
Fortress Biotech has an analyst consensus of Strong Buy, with a price target consensus of $7.88.
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Based on Fortress Biotech’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $9.48 million and GAAP net loss of $15.55 million. In comparison, last year the company earned revenue of $9.77 million and had a GAAP net loss of $12.76 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FBIO in relation to earlier this year.
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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. The company was founded on June 28, 2006 in and is headquartered in New York, NY.
