The stock of Fortress Biotech Inc (NASDAQ:FBIO) hit a new 52-week low and has $2.06 target or 10.00% below today’s $2.29 share price. The 9 months bearish chart indicates high risk for the $111.45 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.06 price target is reached, the company will be worth $11.15 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 21,473 shares traded hands. Fortress Biotech Inc (NASDAQ:FBIO) has declined 25.63% since April 1, 2016 and is downtrending. It has underperformed by 26.85% the S&P500.
Analysts await Fortress Biotech Inc (NASDAQ:FBIO) to report earnings on November, 14. They expect $-0.21 EPS, up 50.00% or $0.21 from last year’s $-0.42 per share. After $-0.31 actual EPS reported by Fortress Biotech Inc for the previous quarter, Wall Street now forecasts -32.26% EPS growth.
According to Zacks Investment Research, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States.”
More important recent Fortress Biotech Inc (NASDAQ:FBIO) news were published by: Investmentnews.com which released: “Biopharmaceutical Fortress Biotech to buy an independent broker-dealer” on April 28, 2016, also Globenewswire.com published article titled: “Fortress Biotech Completes Tender Offer for Shares of National Holdings …”, Globenewswire.com published: “Fortress Biotech Presents Positive Data from the Phase 1/2 Study of CNDO-109 …” on May 18, 2016. More interesting news about Fortress Biotech Inc (NASDAQ:FBIO) was released by: Globenewswire.com and their article: “Fortress Biotech Reports First Quarter 2016 Financial Results and Recent …” with publication date: May 10, 2016.
FBIO Company Profile
Fortress Biotech, Inc., formerly Coronado Biosciences, Inc., incorporated on June 28, 2006, is a biopharmaceutical company. The Firm is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. The Company’s sole product candidate is CNDO-109. The Firm is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products. It seeks to acquire and invest in drugs, technologies and operating subsidiaries with growth potential. The Company’s product, CNDO-109, is a lysate (disrupted Closteroviridae (CTV)-1 cells, cell membrane fragments, cell proteins and other cellular components) that activates donor Natural Killer (NK) cells. CTV-1 is a leukemic cell line re-classified as a T-cell acute lymphocytic leukemia (ALL). The Firm holds the license to develop and commercialize CNDO-109 to activate NK cells for the treatment of cancer-related and other conditions, and a non-exclusive license to certain clinical data solely for use in the Investigational new drug (IND) for CNDO-109. The Firm is conducting the Phase I clinical studies of CNDO-109.
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