Fortress Biotech (FBIO) Gets a Buy Rating from H.C. Wainwright


In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Fortress Biotech (FBIO), with a price target of $10.00. The company’s shares closed last Friday at $3.68.

According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 29.2% and a 48.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Fortress Biotech is a Strong Buy with an average price target of $10.50, a 187.7% upside from current levels. In a report issued on May 12, B.Riley Financial also reiterated a Buy rating on the stock with a $9.00 price target.

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Based on Fortress Biotech’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $13.75 million and GAAP net loss of $5.3 million. In comparison, last year the company earned revenue of $11.13 million and had a GAAP net loss of $15.49 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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