Fortress Biotech, Inc.FBIO was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $0.83 to $1.12 in the past one-month time frame.
The move came after the company announced that it has inked a deal to divest its majority stake in National Holdings Corporation to NHC Holdings, LLC, for roughly $22.9 million.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Fortress Biotech currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Fortress Biotech, Inc. Price
Investors interested in the Medical - Biomedical and Genetics industry may consider Alexion Pharmaceuticals, Inc. ALXN , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Is FBIO going up? Or down? Predict to see what others think: Up or Down
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alexion Pharmaceuticals, Inc. (ALXN): Free Stock Analysis Report
Fortress Biotech, Inc. (FBIO): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc.