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Fortress Biotech (NASDAQ:FBIO – Get Appraisal)The stock had its “buy” rating reissued by Cantor Fitzgerald stock research analysts in a report released on Friday, TipRanks reports. They currently have a price target of $6.00 on shares of the biopharmaceutical company.
FBIO has been the subject of a number of other reports. StockNews.com downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a report released Wednesday. Zacks Investment Research upgraded Fortress Biotech from a “strong sell” rating to a “hold” rating in a research note on Friday. TheStreet downgraded Fortress Biotech from a “c-” rating to a “d+” rating in a Monday, February 14 research note. Finally, Roth Capital reaffirmed a “buy” rating on Fortress Biotech shares in a Tuesday, March 29 research note. One research analyst rated the stock with a sell rating, another has issued a hold rating and five have assigned the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $9.50.
FBIO traded as low as $0.06 in Friday’s midday session, reaching $0.86. 695,679 shares of the company were traded, against an average volume of 677,202. The company has a debt ratio of 0.21, a quick ratio of 3.33 and a current ratio of 3.43. The company’s fifty-day moving average price is $1.21 and its 200-day moving average price is $2.03. The company has a market capitalization of $91.92 million, a price-earnings ratio of -1.00 and a beta of 2.27. Fortress Biotech has a 1-year low of $0.79 and a 1-year high of $4.49.
Fortress Biotech (NASDAQ:FBIO – Get Rating) last released its quarterly earnings data on Thursday, May 12. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating analyst consensus estimates of ($0.28) by $0.10. Fortress Biotech had a negative return on equity of 31.30% and a negative net margin of 88.31%. In the same quarter last year, the company posted ($0.11) earnings per share. As a group, sell-side analysts expect Fortress Biotech to post -0.93 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of FBIO. Morgan Stanley increased its stake in Fortress Biotech by 768.2% in the second quarter. Morgan Stanley now owns 266,945 shares of the biopharmaceutical company valued at $953,000 after buying an additional 236,198 shares in the last quarter. Bank of America Corp DE increased its stake in Fortress Biotech by 102.1% in the second quarter. Bank of America Corp DE now owns 106,334 shares of the biopharmaceutical company valued at $379,000 after buying an additional 53,730 shares in the last quarter. Millennium Management LLC increased its stake in Fortress Biotech by 73.3% in the second quarter. Millennium Management LLC now owns 34,621 shares of the biopharmaceutical company valued at $124,000 after purchasing an additional 14,646 shares in the last quarter. Wells Fargo & Company MN increased its stake in Fortress Biotech by 108.4% in the second quarter. Wells Fargo & Company MN now owns 151,972 shares of the biopharmaceutical company valued at $543,000 after purchasing an additional 79,049 shares last quarter. Finally, SG Americas Securities LLC acquired a new position in Fortress Biotech in the third quarter worth approximately $79,000. Institutional investors and hedge funds hold 30.92% of the company’s shares.
About Fortress Biotech (Get a rating)
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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