Fortress Biotech (NASDAQ:FBIO – Get Appraisal) saw its price target lowered by stock analysts B. Riley from $8.00 to $6.00 in a note issued to investors on Thursday, reports The Fly. The company currently has a “buy” rating on shares of the biopharmaceutical company.
FBIO has been the subject of several other research reports. StockNews.com upgraded Fortress Biotech’s shares from a “sell” rating to a “hold” rating in a Thursday, May 19 research note. Roth Capital reissued a “buy” rating on Fortress Biotech shares in a research note on Tuesday, March 29. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $6.00 price target on Fortress Biotech shares in a research note on Friday, May 13. One investment analyst gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, Fortress Biotech has a consensus rating of “Moderate Buy” and an average price target of $10.50.
Fortress Biotech shares fall 0.9%
NASDAQ FBIO shares opened at $0.87 on Thursday. Fortress Biotech has a 12-month low of $0.77 and a 12-month high of $3.81. The stock has a market capitalization of $93.45 million, a PE ratio of -1.01 and a beta of 2.17. The company has a current ratio of 3.31, a quick ratio of 3.15 and a debt ratio of 0.46. The company has a 50-day moving average of $0.88 and a 200-day moving average of $1.39.
Fortress Biotech (NASDAQ:FBIO – Get Rating) last reported quarterly earnings data on Thursday, May 12. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.10. Fortress Biotech had a negative net margin of 88.31% and a negative return on equity of 32.56%. The company posted revenue of $23.93 million in the quarter, compared to $20.06 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of ($0.11). As a group, sell-side analysts expect Fortress Biotech to post -0.77 EPS for the current fiscal year.
Fortress Biotech Institutional Trading
Several hedge funds have recently changed their positions in FBIO. National Asset Management Inc. increased its holdings of Fortress Biotech shares by 109.1% in the fourth quarter. National Asset Management Inc. now owns 111,550 shares of the biopharmaceutical company worth $279,000 after acquiring 58,200 additional shares in the last quarter. Strs Ohio increased its holdings of Fortress Biotech shares by 167.4% in Q4. Strs Ohio now owns 51,600 shares of the biopharmaceutical company worth $129,000 after acquiring 32,300 additional shares in the last quarter. PVG Asset Management Corp acquired a new position in shares of Fortress Biotech in Q4 worth approximately $248,000. Shikiar Asset Management Inc. increased its holdings of Fortress Biotech shares by 2.3% in Q4. Shikiar Asset Management Inc. now owns 710,500 shares of the biopharmaceutical company worth $1,776,000 after acquiring an additional 16,000 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Fortress Biotech in Q1 worth approximately $277,000. Hedge funds and other institutional investors hold 30.92% of the company’s shares.
About Fortress Biotech
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Fortress Biotech, Inc., a biopharmaceutical company, develops and markets pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of moderate to severe non-nodular acne vulgaris; Targadox for severe acne; Exelderm cream for symptoms of ringworm and jock itch; Ceracade for dry skin; Luxamend for dressing and treating wounds; and Accutane capsules for severe recalcitrant nodular acne.
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