Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald Acquires 20,000 Shares

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald bought 20,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the transaction, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fortress Biotech Price Performance

NASDAQ FBIO remained flat at $1.71 during trading on Monday. The company’s stock had a trading volume of 22,543 shares, compared to its average volume of 313,470. The firm’s fifty day simple moving average is $1.80 and its 200 day simple moving average is $2.00. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 38.42. Fortress Biotech, Inc. has a 1 year low of $1.24 and a 1 year high of $10.35.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.00. The business had revenue of $13.03 million for the quarter, compared to analyst estimates of $14.33 million. On average, analysts predict that Fortress Biotech, Inc. will post -5.07 EPS for the current year.

Hedge Funds Weigh In On Fortress Biotech

Several institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC acquired a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $1,794,000. Acadian Asset Management LLC grew its position in shares of Fortress Biotech by 124.3% in the first 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 during the last quarter. Shikiar Asset Management Inc. grew its position in shares of Fortress Biotech by 21.8% in the first 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 during the last quarter. PVG Asset Management Corp acquired a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $396,000. Finally, Choreo LLC acquired a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $109,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analysts Set New Price Targets

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

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.