Fortress Biotech price target lowered to $15 from $30 at Roth MKM

Roth MKM lowered the firm’s price target on Fortress Biotech to $15 from $30 but keeps a Buy rating on the shares. The company’s Q3 results were within expectations while its Journey dermatology unit is becoming an increasingly important asset, the analyst tells investors in a research note. The firm further cites the Fortress Biotech pipeline remaining active with two potential filings in the next six months, and notes that its current valuation bakes in few future successes.