ValuEngine upgraded shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Fortress Biotech from a buy rating to a hold rating in a report on Monday, July 15th. HC Wainwright reaffirmed a buy rating and issued a $11.00 price objective on shares of Fortress Biotech in a report on Monday, May 13th. Finally, Roth Capital started coverage on shares of Fortress Biotech in a report on Monday, July 1st. They issued a buy rating and a $4.00 price objective for the company.
Shares of FBIO stock remained flat at $$1.38 during mid-day trading on Thursday. 88,730 shares of the stock were exchanged, compared to its average volume of 321,762. Fortress Biotech has a twelve month low of $0.49 and a twelve month high of $2.78. The company has a quick ratio of 2.78, a current ratio of 2.79 and a debt-to-equity ratio of 1.94. The firm has a market cap of $90.02 million, a P/E ratio of -0.46 and a beta of 2.48. The business has a fifty day moving average of $1.51.
Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.31. The business had revenue of $6.48 million during the quarter, compared to analyst estimates of $6.41 million. As a group, equities research analysts predict that Fortress Biotech will post -1.29 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Fortress Biotech by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 379,972 shares of the biopharmaceutical company’s stock valued at $326,000 after acquiring an additional 43,239 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Fortress Biotech by 96.5% during the fourth quarter. Two Sigma Investments LP now owns 30,954 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 15,200 shares during the period. National Asset Management Inc. boosted its holdings in shares of Fortress Biotech by 18.4% during the first quarter. National Asset Management Inc. now owns 56,417 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 8,750 shares during the period. Dowling & Yahnke LLC acquired a new position in shares of Fortress Biotech during the first quarter valued at $36,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Fortress Biotech during the second quarter valued at $34,000. 13.34% of the stock is owned by institutional investors.
Fortress Biotech Company Profile
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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