Fortress Biotech price target raised to $15 from $13 at Roth MKM

Roth MKM raised the firm’s price target on Fortress Biotech (FBIO) to $15 from $13 and keeps a Buy rating on the shares after its Q3 results. The company’s partner Journey’s (DERM) Emrosi was approved, with two more major drug approvals expected in the near-term, the analyst tells investors in a research note. Fortress Biotech also shored up its cash position through financing, and along with revenue from DERM and Checkpoint reaching/approaching profitability in 2025, Fortress Biotech is potentially being transformed to a self-funding entity in 2025, Roth adds.