Insider Buying: Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Buys $32,800.00 in Stock

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the purchase, the chief executive officer now directly owns 2,893,905 shares in the company, valued at $4,746,004.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Fortress Biotech Price Performance

NASDAQ:FBIO opened at $1.76 on Thursday. 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 stock’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $1.97. The company has a market cap of $35.92 million, a P/E ratio of -0.29 and a beta of 1.74. Fortress Biotech, Inc. has a 52-week low of $1.24 and a 52-week high of $10.35.

Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.03) by $1.00. The company had revenue of $13.03 million during the quarter, compared to analyst estimates of $14.33 million. As a group, sell-side analysts forecast that Fortress Biotech, Inc. will post -5.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortress Biotech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Choreo LLC bought a new position in Fortress Biotech during the fourth quarter worth about $109,000. Gladstone Institutional Advisory LLC bought a new position in Fortress Biotech during the fourth quarter worth about $36,000. PVG Asset Management Corp bought a new position in Fortress Biotech during the fourth quarter worth about $396,000. Armistice Capital LLC bought a new position in Fortress Biotech during the fourth quarter worth about $1,794,000. Finally, Wealth Management Partners LLC bought a new position in Fortress Biotech during the fourth quarter worth about $60,000. Institutional investors own 96.51% of the company’s stock.

Wall Street Analysts Forecast Growth

FBIO has been the topic of several recent research reports. Alliance Global Partners initiated coverage on Fortress Biotech in a research note on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 target price on shares of Fortress Biotech in a research report on Thursday, May 16th. StockNews.com raised Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a research report on Thursday, June 20th.

Fortress Biotech Company Profile

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.