Roth Capital Thinks Fortress Biotech’s Stock is Going to RecoverBy Carrie Williams
In a report released yesterday, Joseph Pantginis from Roth Capital reiterated a Buy rating on Fortress Biotech (NASDAQ: FBIO), with a price target of $9. The company’s shares opened today at $2.35, close to its 52-week low of $2.10.
“We believe the safety profile along with its immunogenicity profile in both seropositive and seronegative adults, which highlights the robustness of this vaccine candidate, are important factors that support continued development and further clinical testing of Triplex. A Phase II study is currently underway with data expected in 1H17.”
According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -14.0% and a 31.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Inc., Applied Genetic Technologies, and ImmunoCellular Therapeutics.
Fortress Biotech has an analyst consensus of Moderate Buy.
Based on Fortress Biotech’s latest earnings report from June 30, the company posted quarterly revenue of $2.23M and quarterly net profit of -$12.48M. In comparison, last year the company earned revenue of $25K and had a net profit of -$18.16M.
Fortress Biotech, Inc. operates as a biopharmaceutical company, which is engaged in the development of novel immunotherapy biologic agents for the treatment of autoimmune diseases and cancer. The company’s principal pharmaceutical product candidates in clinical development include Trichuris suis ova or CNDO-201, a biologic for the treatment of autoimmune diseases, such as Crohn’s disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer cells, for the treatment of acute myeloid leukemia and solid tumors. Fortress Biotech was founded on June 28, 2006 in and is headquartered in New York, NY.