FBR Capital Reiterates a Buy Rating on Fortress Biotech

By Jason Carr

In a report released yesterday, Edward White from FBR Capital reiterated a Buy rating on Fortress Biotech (NASDAQ: FBIO). The company’s shares opened today at $2.51.

According to TipRanks.com, White is a 1-star analyst with an average return of -2.4% and a 37.3% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, RXi Pharmaceuticals Corp, and Synthetic Biologics Inc.

Fortress Biotech has an analyst consensus of Moderate Buy.

Based on Fortress Biotech’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $975K and GAAP net loss of $12.98 million. In comparison, last year the company earned revenue of $25K and had a GAAP net loss of $18.16 million.

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.