Alliance Global Partners lowered the firm’s price target on Fortress Biotech (FBIO) to $4 from $5 and keeps a Buy rating on the shares after the company reported Q3 earnings that were within expectations, noting that the balance sheet was fortified in Q3. The firm, which notes key upcoming catalysts that include a Cosibelimab PDUFA date of December 28 and the Emrosi launch for the treatment of rosacea in the first half of 2025, cites dilution from the registered direct offering in September for the lowered price target
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Read More on FBIO:
- Fortress Biotech price target raised to $26 from $24 at H.C. Wainwright
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