Fortress Biotech (NASDAQ:FBIO) stock breaks above the two-hundred-day moving average of $1.21


Fortress Biotech, Inc. (NASDAQ:FBIO – Get Rating) stock price rose above its 200-day moving average during Thursday’s session. The stock has a two-hundred-day moving average of $1.21 and is trading as low as $1.31. Shares of Fortress Biotech last traded at $1.29, with a volume of 408,054 shares traded in hands.

Wall Street analysts predict growth

Several brokerages have weighed in on FBIO recently. B. Riley cut his price target on Fortress Biotech from $8.00 to $6.00 and set a “buy” rating for the company in a Thursday, July 14 report. LADENBURG THALM/SH SH began coverage of Fortress Biotech in a research report on Thursday, August 4. They issued a “buy” rating and a price target of $6.00 for the company. Cantor Fitzgerald reiterated a “buy” rating and posted a $6.00 price target on Fortress Biotech shares in a research report on Friday, May 13. Finally, StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a Thursday, May 19 research report. One investment analyst gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.60.

Fortress Biotech Price Performance

The stock has a 50-day moving average price of $0.93 and a 200-day moving average price of $1.21. The company has a debt ratio of 0.46, a quick ratio of 3.15 and a current ratio of 3.31. The company has a market capitalization of $138.56 million, a PE ratio of -1.50 and a beta of 2.10.

Fortress Biotech (NASDAQ:FBIO – Get Rating) last released quarterly earnings data on Thursday, May 12. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, beating analyst consensus estimates of ($0.28) by $0.10. Fortress Biotech had a negative return on equity of 32.56% and a negative net margin of 88.31%. The company posted revenue of $23.93 million for the quarter, versus a consensus estimate of $20.06 million. During the same period last year, the company achieved EPS of ($0.11). Stock analysts expect Fortress Biotech, Inc. to post -0.72 earnings per share for the current year.

Fortress Biotech Institutional Trading

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. National Asset Management Inc. increased its holdings of Fortress Biotech shares by 30.5% during the first quarter. National Asset Management Inc. now owns 145,550 shares of the biopharmaceutical company worth $198,000 after buying 34,000 more shares last quarter. Advisor Group Holdings Inc. increased its stake in Fortress Biotech by 113.0% in Q1. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company valued at $27,000 after buying an additional 10,620 shares last quarter. Connor Clark & ​​Lunn Investment Management Ltd. increased its stake in Fortress Biotech by 146.9% in the 2nd quarter. Connor Clark & ​​Lunn Investment Management Ltd. now owns 56,142 shares of the biopharmaceutical company valued at $47,000 after purchasing an additional 33,399 shares last quarter. Perkins Capital Management Inc. increased its stake in Fortress Biotech by 640.2% in the 2nd quarter. Perkins Capital Management Inc. now owns 760,992 shares of the biopharmaceutical company valued at $639,000 after buying an additional 658,187 shares last quarter. Finally, Sepio Capital LP acquired a new stake in Fortress Biotech in the 2nd quarter for a value of $53,000. 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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