In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Fortress Biotech, with a price target of $17.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors that, in his view, materially strengthen Fortress Biotech’s financial and strategic position. He highlights the unexpectedly large $205 million sale of the Zycubo priority review voucher, of which Fortress receives roughly $151.7 million, as a key driver that accelerates the company’s path toward durable profitability and augments cash flows from recently approved products.
In addition, he underscores the attractive, de-risked economics around Zycubo, including potential milestones, royalties, and dividend-like streams from partner entities, all within an orphan indication that currently faces no direct competition. His $17 price target is grounded in a conservative NPV framework that excludes several upside cash contributors, while he acknowledges execution risks tied to clinical development and financing that could affect the full realization of this valuation.