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

StockNews.com upgraded shares of Fortress Biotech (NASDAQ:FBIOFree Report) from a sell rating to a hold rating in a research note released on Thursday.

Several other research firms have also recently issued reports on FBIO. Alliance Global Partners started coverage on shares of Fortress Biotech in a report on Tuesday, March 19th. They set a buy rating and a $5.00 price target for the company. Roth Mkm reaffirmed a buy rating and issued a $10.00 target price on shares of Fortress Biotech in a report on Thursday, May 16th.

Get Our Latest Stock Analysis on Fortress Biotech

Fortress Biotech Trading Up 3.5 %

NASDAQ FBIO opened at $1.77 on Thursday. The stock has a market capitalization of $35.26 million, a P/E ratio of -0.29 and a beta of 1.68. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $10.35. The firm has a 50-day moving average price of $1.81 and a 200 day moving average price of $2.05. 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 (NASDAQ:FBIOGet Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.00. The firm had revenue of $13.03 million during 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%. Equities research analysts expect that Fortress Biotech will post -5.07 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FBIO. Virtu Financial LLC acquired a new stake in shares of Fortress Biotech in the first quarter valued at approximately $31,000. Acadian Asset Management LLC grew its position in shares of Fortress Biotech by 124.3% in the first quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock valued at $582,000 after purchasing an additional 161,870 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of Fortress Biotech in the first quarter valued at approximately $33,000. Shikiar Asset Management Inc. grew its position in shares of Fortress Biotech by 21.8% in the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock valued at $446,000 after purchasing an additional 40,000 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new stake in shares of Fortress Biotech in the fourth quarter valued at approximately $396,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Fortress Biotech

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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.

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