StockNews.com Upgrades Fortress Biotech (NASDAQ:FBIO) to “Hold”

Fortress Biotech (NASDAQ:FBIO – Get Rating) was upgraded by StockNews.com investment analysts from a “sell” rating to a “hold” rating in a research report released Saturday to clients and investors.

Several other analysts have also recently released reports on the stock. LADENBURG THALM/SH SH began covering Fortress Biotech shares in a Thursday, August 4, report. They issued a “buy” rating and a price target of $6.00 on the stock. B. Riley cut his price target on Fortress Biotech stock from $8.00 to $6.00 and set a “buy” rating on the stock in a Thursday, July 14 report. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $6.00 price target on Fortress Biotech shares in a Friday, May 13 report. One equity research analyst gave the stock a hold rating and six gave the company’s stock a buy rating. According to MarketBeat, Fortress Biotech has an average rating of “Moderate Buy” and a consensus target price of $9.60.

Fortress Biotech is trading up 2.9%

The NASDAQ FBIO opened at $1.07 on Friday. The company’s fifty-day simple moving average is $0.99 and its 200-day simple moving average is $1.12. Fortress Biotech has a 52 week low of $0.77 and a 52 week high of $3.81. The company has a current ratio of 2.85, a quick ratio of 2.70 and a debt ratio of 0.61. The stock has a market capitalization of $115.28 million, a P/E ratio of -1.01 and a beta of 2.10.

Fortress Biotech Institutional Trading

Institutional investors have recently increased or reduced their stake in the company. Advisor Group Holdings Inc. increased its position in Fortress Biotech shares by 113.0% during the first quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company worth $27,000 after acquiring 10,620 additional shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Fortress Biotech shares by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company worth $272,000 after acquiring 12,966 additional shares in the last quarter. Northern Trust Corp increased its position in Fortress Biotech shares by 2.2% during the fourth quarter. Northern Trust Corp now owns 683,283 shares of the biopharmaceutical company worth $1,708,000 after acquiring 14,470 additional shares in the last quarter. ProShare Advisors LLC bought a new stock position in Fortress Biotech during the fourth quarter worth approximately $41,000. Finally, Goldman Sachs Group Inc. increased its position in Fortress Biotech shares by 9.3% during the first quarter. Goldman Sachs Group Inc. now owns 252,976 shares of the biopharmaceutical company worth $344,000 after acquiring 21,489 additional shares in the last quarter. Institutional investors hold 28.66% 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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Analyst Recommendations for Fortress Biotech (NASDAQ: FBIO)

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