Price Action Alert: A Reversal for Fortress Biotech Inc Is Not Near. The Stock Declines Again

Price Action Alert: A Reversal for Fortress Biotech Inc Is Not Near. The Stock Declines Again

The stock of Fortress Biotech Inc (NASDAQ:FBIO) is a huge mover today! About 83,956 shares traded hands or 10.74% up from the average. Fortress Biotech Inc (NASDAQ:FBIO) has declined 32.95% since April 6, 2016 and is downtrending. It has underperformed by 34.91% the S&P500.
The move comes after 6 months negative chart setup for the $127.28 million company. It was reported on Nov, 8 by Barchart.com. We have $2.05 PT which if reached, will make NASDAQ:FBIO worth $12.73 million less.

Analysts await Fortress Biotech Inc (NASDAQ:FBIO) to report earnings on November, 14. They expect $-0.21 earnings per share, up 50.00% or $0.21 from last year’s $-0.42 per share. After $-0.31 actual earnings per share 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 recent Fortress Biotech Inc (NASDAQ:FBIO) news were published by: Nasdaq.com which released: “Fortress Biotech Forms New Subsidiary, Cellvation, Inc., to Develop Novel …” on November 07, 2016. Also Investmentnews.com published the news titled: “Biopharmaceutical Fortress Biotech to buy an independent broker-dealer” on April 28, 2016. Globenewswire.com‘s news article titled: “Fortress Biotech Completes Tender Offer for Shares of National Holdings …” with publication date: September 12, 2016 was also an interesting one.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment