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

StockNews.com upgraded shares of Fortress Biotech (NASDAQ:FBIO) from a sell rating to a hold rating in a research report released on Wednesday morning.

Several other equities research analysts have also recently weighed in on FBIO. Cantor Fitzgerald restated an overweight rating on shares of Fortress Biotech in a research note on Thursday, June 20th. Roth Mkm reaffirmed a buy rating and issued a $10.00 target price on shares of Fortress Biotech in a research report on Thursday, May 16th. Finally, HC Wainwright restated a buy rating and issued a $24.00 price objective on shares of Fortress Biotech in a research note on Friday, July 19th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Fortress Biotech presently has a consensus rating of Moderate Buy and a consensus price target of $13.00.

Fortress Biotech Stock Down 2.1 %

Shares of NASDAQ:FBIO opened at $1.86 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 38.42. Fortress Biotech has a fifty-two week low of $1.24 and a fifty-two week high of $7.20. The stock has a market cap of $37.97 million, a price-to-earnings ratio of -0.30 and a beta of 1.74. The firm’s 50 day moving average price is $1.92 and its 200 day moving average price is $1.89.

Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.59. The business had revenue of $14.90 million during the quarter, compared to analysts’ expectations of $14.97 million. As a group, equities research analysts predict that Fortress Biotech will post -5.07 earnings per share for the current fiscal year.

Insider Activity

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the purchase, the chief executive officer now directly owns 2,893,905 shares in the company, valued at $4,746,004.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Lindsay A. Md Rosenwald bought 5,000 shares of Fortress Biotech stock in a transaction dated Thursday, July 11th. The stock was bought at an average price of $7.48 per share, for a total transaction of $37,400.00. Following the purchase, the chief executive officer now owns 127,500 shares of the company’s stock, valued at $953,700. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the purchase, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at $4,746,004.20. The disclosure for this purchase can be found here. Insiders have acquired 30,500 shares of company stock valued at $110,700 in the last ninety days. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortress Biotech

Institutional investors have recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC acquired a new stake in shares of Fortress Biotech in the 4th quarter valued at approximately $36,000. Virtu Financial LLC acquired a new position in shares of Fortress Biotech during the 1st quarter worth $31,000. PFG Investments LLC purchased a new position in shares of Fortress Biotech in the 1st quarter valued at about $33,000. Choreo LLC acquired a new stake in shares of Fortress Biotech in the fourth quarter valued at about $109,000. Finally, Shikiar Asset Management Inc. grew its position in Fortress Biotech by 21.8% during the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock worth $446,000 after buying an additional 40,000 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.