Lindsay A. Md Rosenwald Buys 20,000 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) Stock

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $1.64 per share, with a total value of $32,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Fortress Biotech Stock Performance

NASDAQ FBIO opened at $1.69 on Tuesday. 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, Inc. has a 52-week low of $1.24 and a 52-week high of $10.35. The business’s 50-day moving average price is $1.80 and its 200 day moving average price is $1.98. The firm has a market cap of $34.49 million, a P/E ratio of -0.28 and a beta of 1.74.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.00. The company had revenue of $13.03 million for the quarter, compared to analysts’ expectations of $14.33 million. On average, equities research analysts expect that Fortress Biotech, Inc. will post -5.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on FBIO. Alliance Global Partners began coverage on 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 reiterated a “buy” rating and issued a $10.00 price objective on shares of Fortress Biotech in a research note on Thursday, May 16th. StockNews.com upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, June 20th.

Institutional Investors Weigh In On Fortress Biotech

A number of hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Fortress Biotech during the 1st quarter worth approximately $31,000. PFG Investments LLC purchased a new stake in shares of Fortress Biotech during the 1st quarter worth approximately $33,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of Fortress Biotech during the 4th quarter worth approximately $36,000. Wealth Management Partners LLC purchased a new stake in shares of Fortress Biotech during the 4th quarter worth approximately $60,000. Finally, Choreo LLC purchased a new stake in shares of Fortress Biotech during the 4th quarter worth approximately $109,000. Institutional investors and hedge funds 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.