Fortress Biotech (NASDAQ:FBIO) Stock Rating Upgraded by StockNews.com

Fortress Biotech (NASDAQ:FBIO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on FBIO. Cantor Fitzgerald restated an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, June 20th. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Fortress Biotech in a research note on Thursday, May 16th. Finally, Alliance Global Partners began coverage on shares of Fortress Biotech in a research note on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price objective on the stock.

Fortress Biotech Trading Up 1.8 %

NASDAQ:FBIO opened at $1.71 on Friday. Fortress Biotech has a 12 month low of $1.24 and a 12 month high of $10.35. The firm has a market cap of $34.90 million, a price-to-earnings ratio of -0.28 and a beta of 1.68. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 38.42. The company’s 50 day moving average is $1.80 and its 200-day moving average is $2.01.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data 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 business had revenue of $13.03 million for the quarter, compared to the consensus estimate of $14.33 million. Fortress Biotech had a negative net margin of 69.13% and a negative return on equity of 770.86%. Equities analysts anticipate that Fortress Biotech will post -5.07 EPS for the current year.

Institutional Investors Weigh In On Fortress Biotech

A number of institutional investors have recently bought and sold shares of the business. Armistice Capital LLC acquired a new stake in shares of Fortress Biotech in the 4th quarter valued at $1,794,000. Acadian Asset Management LLC boosted its stake in shares of Fortress Biotech by 124.3% in the 1st 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 in the last quarter. PVG Asset Management Corp acquired a new stake in shares of Fortress Biotech in the 4th quarter valued at $396,000. Shikiar Asset Management Inc. boosted its stake in shares of Fortress Biotech by 21.8% in the 1st 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 in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Fortress Biotech in the 4th quarter valued at $109,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

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.