StockNews.com Upgrades Fortress Biotech (NASDAQ:FBIO) to Hold

Fortress Biotech (NASDAQ:FBIO) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Other analysts have also recently issued reports about the stock. Alliance Global Partners began coverage on shares of Fortress Biotech in a research note on Tuesday, March 19th. They set a “buy” rating and a $5.00 price objective for the company. Roth Mkm reissued a “buy” rating and set a $10.00 price target on shares of Fortress Biotech in a research report on Thursday, May 16th.

Fortress Biotech Stock Up 3.5 %

Shares of NASDAQ:FBIO opened at $1.77 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42. The firm has a market cap of $35.26 million, a price-to-earnings ratio of -0.29 and a beta of 1.68. The stock’s 50-day moving average price is $1.81 and its two-hundred day moving average price is $2.06. Fortress Biotech has a 12-month low of $1.24 and a 12-month high of $10.35.

Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.00. Fortress Biotech had a negative net margin of 69.13% and a negative return on equity of 770.86%. The business had revenue of $13.03 million for the quarter, compared to analysts’ expectations of $14.33 million. On average, research analysts forecast that Fortress Biotech will post -5.07 EPS for the current year.

Institutional Trading of Fortress Biotech

A number of institutional investors have recently added to or reduced their stakes in FBIO. Gladstone Institutional Advisory LLC purchased a new position in Fortress Biotech in the fourth quarter valued at about $36,000. Virtu Financial LLC acquired a new stake in shares of Fortress Biotech in the first quarter valued at about $31,000. PFG Investments LLC acquired a new stake in shares of Fortress Biotech in the first quarter valued at about $33,000. Wealth Management Partners LLC purchased a new stake in shares of Fortress Biotech during the 4th quarter valued at about $60,000. Finally, Choreo LLC acquired a new position in Fortress Biotech during the 4th quarter worth approximately $109,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Fortress Biotech

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.