StockNews.com downgraded shares of Fortress Biotech (NASDAQ:FBIO – Get Appraisal) from a hold rating to a sell rating in a research note released Monday morning.
Several other equity analysts have also recently weighed in on FBIO. LADENBURG THALM/SH SH began coverage of Fortress Biotech in a research report on Thursday, August 4. They set a buy rating and a target price of $6.00 on the stock. B. Riley cut his target price on Fortress Biotech from $8.00 to $6.00 and set a buy rating on the stock in a Thursday, July 14 research report. Finally, Cantor Fitzgerald reaffirmed a Buy rating and posted a $6.00 price target on Fortress Biotech shares in a research report on Friday, May 13. One equity research analyst gave the stock a sell rating and six gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a Moderate Buy consensus rating and an average target price of $9.60.
Performance of Fortress Biotech shares
NASDAQ: FBIO opened at $1.27 on Monday. The company has a debt ratio of 0.61, a current ratio of 2.85 and a quick ratio of 2.70. Fortress Biotech has a 1-year low of $0.77 and a 1-year high of $3.81. The stock’s 50-day simple moving average is $0.95 and its two-hundred-day simple moving average is $1.19. The company has a market capitalization of $136.41 million, a price-earnings ratio of -1.20 and a beta of 2.10.
Hedge funds weigh on Fortress Biotech
Several hedge funds have recently bought and sold shares of FBIO. Renaissance Technologies LLC increased its equity stake in Fortress Biotech by 1,005.2% in Q1. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company worth $1,498,000 after purchasing an additional 1,001,653 shares during the period. Millennium Management LLC increased its equity stake in Fortress Biotech by 569.9% in Q2. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company worth $736,000 after purchasing an additional 745,405 shares during the period. Perkins Capital Management Inc. increased its equity stake in Fortress Biotech by 640.2% in Q2. Perkins Capital Management Inc. now owns 760,992 shares of the biopharmaceutical company worth $639,000 after purchasing an additional 658,187 shares during the period. Acadian Asset Management LLC increased its holdings of Fortress Biotech shares by 169.1% in Q1. Acadian Asset Management LLC now owns 424,693 shares of the biopharmaceutical company worth $575,000 after purchasing an additional 266,853 shares during the period. Finally, GSA Capital Partners LLP purchased a new equity stake in Fortress Biotech in Q1 for $277,000. Institutional investors hold 30.92% of the company’s shares.
Fortress Biotech Company Profile
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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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