Fortress Biotech (FBIO) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Fortress Biotech (NASDAQ: FBIO) recently:

  • 4/6/2021 – Fortress Biotech was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
  • 4/5/2021 – Fortress Biotech had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $9.00 price target on the stock, up previously from $8.00.
  • 4/1/2021 – Fortress Biotech had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald.
  • 3/23/2021 – Fortress Biotech was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $4.75 price target on the stock. According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
  • 3/22/2021 – Fortress Biotech was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
  • 3/4/2021 – Fortress Biotech was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
  • 3/3/2021 – Fortress Biotech was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $5.50 price target on the stock. According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
  • 2/26/2021 – Fortress Biotech had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $10.00 price target on the stock.
  • 2/17/2021 – Fortress Biotech had its price target raised by analysts at Dawson James from $16.00 to $21.00. They now have a “buy” rating on the stock.
  • 2/9/2021 – Fortress Biotech was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “

FBIO stock traded up $0.52 on Thursday, reaching $4.76. 135,789 shares of the company traded hands, compared to its average volume of 951,971. Fortress Biotech, Inc. has a one year low of $1.84 and a one year high of $5.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.38 and a quick ratio of 6.35. The company has a market cap of $446.03 million, a P/E ratio of -5.60 and a beta of 2.43. The firm has a fifty day simple moving average of $4.02 and a 200-day simple moving average of $3.39.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Tuesday, March 30th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. Fortress Biotech had a negative return on equity of 44.08% and a negative net margin of 131.98%. On average, sell-side analysts forecast that Fortress Biotech, Inc. will post -0.76 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at $47,000. Morgan Stanley boosted its stake in Fortress Biotech by 3,331.6% during the 3rd quarter. Morgan Stanley now owns 928,153 shares of the biopharmaceutical company’s stock valued at $3,750,000 after purchasing an additional 901,106 shares during the last quarter. Sepio Capital LP purchased a new stake in Fortress Biotech during the 4th quarter valued at $427,000. Sandbox Financial Partners LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at $46,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Fortress Biotech by 16.0% in the 4th quarter. Bank of New York Mellon Corp now owns 253,374 shares of the biopharmaceutical company’s stock worth $803,000 after buying an additional 34,926 shares during the last quarter. Institutional investors and hedge funds own 32.13% of the company’s stock.

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ximino to treat inflammatory lesions of severe acne vulgaris.

Further Reading: What is a Buy-Side Analyst?

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