LADENBURG THALM/SH SH begins coverage of Fortress Biotech (NASDAQ: FBIO)


LADENBURG THALM/SH SH began to cover the shares of Fortress Biotech (NASDAQ:FBIO – Get Appraisal) in a research note released Thursday to investors, Marketbeat reports. The company issued a buy rating and a price target of $6.00 on the shares of the biopharmaceutical company.

Several other research companies also recently commented on FBIO. StockNews.com upgraded shares of Fortress Biotech from a sell rating to a hold rating in a Thursday, May 19 research report. 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. Finally, Cantor Fitzgerald reaffirmed a Buy rating and set a target price of $6.00 on Fortress Biotech shares in a Friday, May 13 research note. One analyst gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat.com, Fortress Biotech has a Moderate Buy consensus rating and an average price target of $9.60.

Fortress Biotech is trading up 6.1%

NASDAQ FBIO shares opened at $1.21 on Thursday. The company has a market capitalization of $129.97 million, a price-earnings ratio of -1.41 and a beta of 2.10. The stock’s 50-day simple moving average is $0.91 and its 200-day simple moving average is $1.23. The company has a current ratio of 3.31, a quick ratio of 3.15 and a debt ratio of 0.46. Fortress Biotech has a 12-month low of $0.77 and a 12-month high of $3.81.

Fortress Biotech (NASDAQ:FBIO – Get Rating) last reported results on Thursday, May 12. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.28) by $0.10. The company posted revenue of $23.93 million for the quarter, versus $20.06 million expected by analysts. Fortress Biotech had a negative return on equity of 32.56% and a negative net margin of 88.31%. During the same period last year, the company posted ($0.11) earnings per share. Equity research analysts expect Fortress Biotech to post -0.79 EPS for the current year.

Institutional investors weigh in on Fortress Biotech

Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. Connor Clark & ​​Lunn Investment Management Ltd. increased its stake in Fortress Biotech by 146.9% during 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 holdings of Fortress Biotech shares by 640.2% in the second quarter. Perkins Capital Management Inc. now owns 760,992 shares of the biopharmaceutical company valued at $639,000 after purchasing an additional 658,187 shares during the period. Sepio Capital LP bought a new position in Fortress Biotech during the second quarter worth approximately $53,000. Shikiar Asset Management Inc. increased its stake in Fortress Biotech by 11.5% during the second quarter. Shikiar Asset Management Inc. now owns 800,000 shares of the biopharmaceutical company valued at $672,000 after buying an additional 82,250 shares last quarter. Finally, Mirabella Financial Services LLP acquired a new position in Fortress Biotech during the first quarter worth approximately $42,000. Institutional investors 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.

Further reading

Analyst Recommendations for Fortress Biotech (NASDAQ: FBIO)



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