Fortress Biotech (NASDAQ:FBIO) has been assigned a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.67.
Several equities research analysts have issued reports on FBIO shares. HC Wainwright set a $11.00 price target on shares of Fortress Biotech and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, ValuEngine cut shares of Fortress Biotech from a “buy” rating to a “hold” rating in a research note on Monday, July 16th.
Shares of FBIO traded down $0.08 during trading hours on Monday, reaching $1.04. The company had a trading volume of 247,200 shares, compared to its average volume of 187,414. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $60.86 million, a PE ratio of -0.65 and a beta of 1.46. Fortress Biotech has a 12-month low of $0.83 and a 12-month high of $5.54.
Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.09. The business had revenue of $63.83 million during the quarter, compared to the consensus estimate of $48.93 million. Fortress Biotech had a negative net margin of 47.97% and a negative return on equity of 71.96%. On average, research analysts anticipate that Fortress Biotech will post -2.21 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in FBIO. Acadian Asset Management LLC acquired a new stake in shares of Fortress Biotech during the 2nd quarter worth about $460,000. BlackRock Inc. lifted its holdings in shares of Fortress Biotech by 6.6% during the 2nd quarter. BlackRock Inc. now owns 1,903,033 shares of the biopharmaceutical company’s stock worth $5,671,000 after acquiring an additional 117,290 shares during the period. Strs Ohio lifted its holdings in shares of Fortress Biotech by 60.1% during the 2nd quarter. Strs Ohio now owns 202,100 shares of the biopharmaceutical company’s stock worth $602,000 after acquiring an additional 75,900 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Fortress Biotech by 109.0% during the 2nd quarter. Macquarie Group Ltd. now owns 97,982 shares of the biopharmaceutical company’s stock worth $292,000 after acquiring an additional 51,100 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Fortress Biotech by 264.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 30,024 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 21,792 shares during the period. 13.76% of the stock is currently owned by institutional investors.
About Fortress Biotech
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.
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