After H.C. Wainwright and Benchmark Co. gave Fortress Biotech (NASDAQ: FBIO) a Buy rating last month, the company received another Buy, this time from Roth Capital. Analyst Scott Henry maintained a Buy rating on Fortress Biotech today and set a price target of $4.80. The company’s shares closed last Tuesday at $3.02.
According to TipRanks.com, Henry is a 1-star analyst with an average return of -0.1% and a 41.7% success rate. Henry covers the Healthcare sector, focusing on stocks such as Champions Oncology, Lemaitre Vascular, and RedHill Biopharma.
Currently, the analyst consensus on Fortress Biotech is a Strong Buy with an average price target of $8.00, a 158.1% upside from current levels. In a report issued on October 2, Benchmark Co. also initiated coverage with 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 June 30, the company reported a quarterly revenue of $9.46 million and GAAP net loss of $13.31 million. In comparison, last year the company earned revenue of $9.25 million and had a GAAP net loss of $13.1 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.
