In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Fortress Biotech (FBIO), with a price target of $8.00. The company’s shares closed last Wednesday at $3.57.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 30.4% and a 60.6% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Frequency Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Fortress Biotech with a $10.60 average price target, which is a 192.8% upside from current levels. In a report issued on June 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.
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Based on Fortress Biotech’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.59 million and GAAP net loss of $8.82 million. In comparison, last year the company earned revenue of $12.92 million and had a GAAP net loss of $12.37 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.
