Fortress Biotech (NASDAQ:FBIO) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Fortress Biotech, Inc. (NASDAQ:FBIO) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.71 and traded as high as $4.47. Fortress Biotech shares last traded at $4.38, with a volume of 847,109 shares traded.

Analysts Set New Price Targets

FBIO has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fortress Biotech in a report on Monday, December 29th. Wall Street Zen upgraded Fortress Biotech from a “hold” rating to a “buy” rating in a report on Sunday, November 23rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fortress Biotech has an average rating of “Hold” and a consensus target price of $16.50.

Fortress Biotech Trading Down 1.8%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.97 and a current ratio of 2.19. The company’s 50 day moving average is $3.11 and its 200 day moving average is $2.74. The stock has a market capitalization of $133.47 million, a price-to-earnings ratio of -23.89 and a beta of 1.42.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Friday, November 14th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.54. Fortress Biotech had a net margin of 6.40% and a negative return on equity of 69.39%. The firm had revenue of $17.63 million for the quarter, compared to analyst estimates of $21.02 million. On average, research analysts forecast that Fortress Biotech, Inc. will post -3.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortress Biotech

A number of institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC bought a new position in shares of Fortress Biotech during the 3rd quarter valued at about $444,000. Vanguard Group Inc. raised its holdings in shares of Fortress Biotech by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after purchasing an additional 97,405 shares during the period. Sheets Smith Investment Management bought a new position in shares of Fortress Biotech during the 3rd quarter worth approximately $270,000. Panagora Asset Management Inc. bought a new position in Fortress Biotech during the second quarter worth $93,000. Finally, Shikiar Asset Management Inc. grew its stake in Fortress Biotech by 18.0% in the 2nd quarter. Shikiar Asset Management Inc. now owns 278,469 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 42,500 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Fortress Biotech Company Profile

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.