Fortress Biotech (NASDAQ:FBIO) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58), MarketWatch Earnings reports. Fortress Biotech had a negative net margin of 30.52% and a negative return on equity of 68.16%.
Fortress Biotech stock opened at $1.99 on Tuesday. The firm has a market cap of $112.79 million, a PE ratio of -1.24 and a beta of 3.23. The company has a current ratio of 2.25, a quick ratio of 2.24 and a debt-to-equity ratio of 0.76. Fortress Biotech has a 1-year low of $0.49 and a 1-year high of $5.36.
A hedge fund recently raised its stake in Fortress Biotech stock. Geode Capital Management LLC grew its holdings in shares of Fortress Biotech (NASDAQ:FBIO) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,972 shares of the biopharmaceutical company’s stock after purchasing an additional 43,239 shares during the quarter. Geode Capital Management LLC owned about 0.67% of Fortress Biotech worth $326,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 12.63% of the company’s stock.
FBIO has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Fortress Biotech from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Wednesday, January 9th. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Fortress Biotech in a report on Wednesday, February 20th. Finally, ValuEngine upgraded shares of Fortress Biotech from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd.
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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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