Fortress Biotech (NASDAQ:FBIO) Upgraded by StockNews.com to Hold

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

Several other research analysts have also recently weighed in on FBIO. Alliance Global Partners began coverage on shares of Fortress Biotech in a research note on Tuesday, March 19th. They set a buy rating and a $5.00 price target on the stock. Roth Mkm reissued a buy rating and set a $10.00 price target on shares of Fortress Biotech in a report on Thursday, May 16th. Finally, Cantor Fitzgerald restated an overweight rating on shares of Fortress Biotech in a research report on Thursday, June 20th.

Fortress Biotech Stock Up 1.8 %

FBIO stock opened at $1.71 on Friday. The company has a market cap of $34.90 million, a price-to-earnings ratio of -0.28 and a beta of 1.68. The company has a debt-to-equity ratio of 38.42, a quick ratio of 1.21 and a current ratio of 1.33. The business’s 50-day moving average is $1.80 and its two-hundred day moving average is $2.01. Fortress Biotech has a fifty-two week low of $1.24 and a fifty-two week high of $10.35.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($2.03) by $1.00. The firm had revenue of $13.03 million for the quarter, compared to analysts’ expectations of $14.33 million. Fortress Biotech had a negative net margin of 69.13% and a negative return on equity of 770.86%. As a group, analysts forecast that Fortress Biotech will post -5.07 earnings per share for the current year.

Institutional Investors Weigh In On Fortress Biotech

Institutional investors have recently bought and sold shares of the business. Choreo LLC bought a new position in shares of Fortress Biotech in the fourth quarter worth about $109,000. Gladstone Institutional Advisory LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at approximately $36,000. PVG Asset Management Corp purchased a new stake in Fortress Biotech during the 4th quarter valued at approximately $396,000. Armistice Capital LLC bought a new stake in shares of Fortress Biotech during the fourth quarter valued at approximately $1,794,000. Finally, Wealth Management Partners LLC purchased a new position in shares of Fortress Biotech in the fourth quarter worth $60,000. 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.