Fortress Biotech’s (FBIO) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Fortress Biotech (NASDAQ:FBIOFree Report) in a research report report published on Thursday, Benzinga reports.

Several other research firms have also recently commented on FBIO. StockNews.com upgraded shares of Fortress Biotech from a sell rating to a hold rating in a research report on Thursday. Alliance Global Partners assumed coverage on Fortress Biotech in a report on Tuesday, March 19th. They issued a buy rating and a $5.00 price objective for the company. Finally, Roth Mkm reaffirmed a buy rating and set a $10.00 target price on shares of Fortress Biotech in a research note on Thursday, May 16th.

Read Our Latest Stock Report on FBIO

Fortress Biotech Stock Up 3.5 %

Shares of Fortress Biotech stock opened at $1.77 on Thursday. The stock has a market capitalization of $35.26 million, a price-to-earnings ratio of -0.29 and a beta of 1.68. Fortress Biotech has a twelve month low of $1.24 and a twelve month high of $10.35. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42. The business’s 50 day simple moving average is $1.81 and its 200-day simple moving average is $2.05.

Fortress Biotech (NASDAQ:FBIOGet Free Report) last issued its earnings results 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. Fortress Biotech had a negative return on equity of 770.86% and a negative net margin of 69.13%. The firm had revenue of $13.03 million for the quarter, compared to analyst estimates of $14.33 million. Equities research analysts forecast that Fortress Biotech will post -5.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Choreo LLC acquired a new stake in Fortress Biotech in the fourth quarter worth approximately $109,000. Gladstone Institutional Advisory LLC bought a new position in Fortress Biotech during the fourth quarter valued at about $36,000. PVG Asset Management Corp bought a new position in Fortress Biotech during the fourth quarter valued at about $396,000. Armistice Capital LLC acquired a new position in Fortress Biotech during the fourth quarter worth about $1,794,000. Finally, Wealth Management Partners LLC bought a new stake in Fortress Biotech in the fourth quarter worth about $60,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Fortress Biotech Company Profile

(Get Free Report)

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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