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

Fortress Biotech (NASDAQ:FBIO) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other research analysts have also weighed in 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a research report on Thursday, June 20th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Fortress Biotech in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fortress Biotech has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Fortress Biotech Stock Performance

Shares of Fortress Biotech stock traded down $0.02 on Wednesday, reaching $1.81. 429,875 shares of the company traded hands, compared to its average volume of 310,757. The company has a 50 day moving average of $1.92 and a 200 day moving average of $1.89. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.33 and a quick ratio of 1.21. Fortress Biotech has a 52 week low of $1.24 and a 52 week high of $7.70. The firm has a market capitalization of $36.95 million, a PE ratio of -0.30 and a beta of 1.74.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($2.03) by $1.00. The firm had revenue of $13.03 million for the quarter, compared to the consensus estimate of $14.33 million. Equities analysts forecast that Fortress Biotech will post -5.07 earnings per share for the current year.

Insider Buying and Selling

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was purchased at an average price of $7.35 per share, for a total transaction of $36,750.00. Following the transaction, the chief executive officer now owns 117,500 shares in the company, valued at approximately $863,625. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $1.64 per share, for a total transaction 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 document filed with the SEC, which is accessible through this link. Also, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of Fortress Biotech stock in a transaction dated Monday, July 8th. The shares were purchased at an average price of $7.35 per share, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now directly owns 117,500 shares in the company, valued at approximately $863,625. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 40,500 shares of company stock worth $128,300. Corporate insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in Fortress Biotech by 124.3% in the first quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock worth $582,000 after purchasing an additional 161,870 shares during the last quarter. Choreo LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at about $109,000. Gladstone Institutional Advisory LLC bought a new position in Fortress Biotech during the 4th quarter worth approximately $36,000. Virtu Financial LLC purchased a new position in Fortress Biotech in the 1st quarter worth approximately $31,000. Finally, PVG Asset Management Corp bought a new stake in Fortress Biotech in the fourth quarter valued at approximately $396,000. 96.51% of the stock is currently owned by institutional investors.

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.