Fortress Biotech initiated with a Buy at Alliance Global Partners

Alliance Global Partners initiated coverage of Fortress Biotech with a Buy rating and $5 price target. Fortress Bio has a platform of biotechnology and pharmaceutical technologies from early-stage compounds to on-market products and maintains stakes and influence in many subsidiaries as private or public entities, notes the analyst, who believes that the assets of Fortress are “undervalued” and tells investors that coming monetization events “could revalue shares higher and maintain funding.”