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

Fortress Biotech (NASDAQ:FBIO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on the company. Alliance Global Partners initiated coverage on Fortress Biotech in a research report on Tuesday, March 19th. They set a “buy” rating and a $5.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a research report on Thursday, June 20th. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Fortress Biotech in a research report on Thursday, May 16th.

Fortress Biotech Trading Up 1.8 %

Shares of Fortress Biotech stock opened at $1.71 on Friday. The company has a debt-to-equity ratio of 38.42, a quick ratio of 1.21 and a current ratio of 1.33. The firm has a 50-day moving average of $1.80 and a 200-day moving average of $2.00. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $10.35. The stock has a market cap of $34.90 million, a PE ratio of -0.28 and a beta of 1.68.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $13.03 million during the quarter, compared to the consensus estimate of $14.33 million. As a group, sell-side analysts forecast that Fortress Biotech will post -5.07 EPS for the current year.

Institutional Investors Weigh In On Fortress Biotech

A number of large investors have recently modified their holdings of the business. Gladstone Institutional Advisory LLC acquired a new position in shares of Fortress Biotech during the 4th quarter worth $36,000. Virtu Financial LLC bought a new position in Fortress Biotech in the first quarter valued at about $31,000. PFG Investments LLC acquired a new position in Fortress Biotech during the first quarter worth about $33,000. Wealth Management Partners LLC bought a new position in shares of Fortress Biotech in the fourth quarter worth about $60,000. Finally, Choreo LLC acquired a new stake in shares of Fortress Biotech in the 4th quarter valued at approximately $109,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

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.