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Fortress Biotech (NASDAQ:FBIO – Get a review) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released Thursday.
A number of other research companies also weighed in on FBIO. Roth Capital reiterated a “buy” rating on Fortress Biotech shares in a Tuesday, March 29 research note. TheStreet downgraded shares of Fortress Biotech from a “c-” rating to a “d+” rating in a Monday, February 14 research note. Zacks Investment Research upgraded shares of Fortress Biotech from a “strong sell” rating to a “hold” rating in a Friday, May 13 report. Finally, Cantor Fitzgerald reissued a “buy” rating and posted a $6.00 price target on Fortress Biotech shares in a Friday, May 13 report. Two investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, Fortress Biotech currently has a consensus rating of “Buy” and a consensus target price of $9.50.
Fortress Biotech stock opened at $0.87 on Thursday. Fortress Biotech has a 1-year minimum of $0.79 and a 1-year maximum of $4.49. The company has a market capitalization of $93.66 million, a price-earnings ratio of -1.01 and a beta of 2.27. The company has a current ratio of 3.31, a quick ratio of 3.15 and a debt ratio of 0.46. The company has a 50-day simple moving average of $1.19 and a 200-day simple moving average of $2.00.
Fortress Biotech (NASDAQ:FBIO – Get Rating) last released its 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 net margin of 88.31% and a negative return on equity of 32.56%. During the same period last year, the company posted ($0.11) earnings per share. On average, equity research analysts expect Fortress Biotech to post -0.88 EPS for the current year.
A number of large investors have recently changed their positions in FBIO. Advisor Group Holdings Inc. increased its equity stake in Fortress Biotech by 113.0% during the 1st 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. Citigroup Inc. increased its equity stake in Fortress Biotech by 160.5% during the third quarter. Citigroup Inc. now owns 8,879 shares of the biopharmaceutical company worth $29,000 after acquiring 5,470 additional shares in the last quarter. Marshall Wace LLP purchased a new stake in Fortress Biotech stock during Q4 for $30,000. Two Sigma Securities LLC purchased a new stake in Fortress Biotech stock during Q3 for $33,000. Finally, Envestnet Asset Management Inc. purchased a new equity stake in Fortress Biotech during Q1 for $33,000. 30.92% of the shares are held by hedge funds and other institutional investors.
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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