Lindsay A. Md Rosenwald Buys 20,000 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) Stock

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the transaction, the chief executive officer now directly owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fortress Biotech Price Performance

Shares of NASDAQ FBIO opened at $1.76 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. Fortress Biotech, Inc. has a 1-year low of $1.24 and a 1-year high of $10.35. The firm has a market capitalization of $35.92 million, a P/E ratio of -0.29 and a beta of 1.74. The firm’s 50-day moving average price is $1.80 and its 200-day moving average price is $1.97.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($2.03) by $1.00. The business had revenue of $13.03 million during the quarter, compared to the consensus estimate of $14.33 million. Equities research analysts anticipate that Fortress Biotech, Inc. will post -5.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortress Biotech

Several large investors have recently added to or reduced their stakes in the business. Armistice Capital LLC bought a new position in Fortress Biotech in the 4th quarter valued at about $1,794,000. Acadian Asset Management LLC lifted its position in Fortress Biotech by 124.3% in the 1st quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 161,870 shares in the last quarter. Shikiar Asset Management Inc. lifted its position in Fortress Biotech by 21.8% in the 1st quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock valued at $446,000 after acquiring an additional 40,000 shares in the last quarter. PVG Asset Management Corp bought a new position in Fortress Biotech in the 4th quarter valued at about $396,000. Finally, Choreo LLC bought a new position in Fortress Biotech in the 4th quarter valued at about $109,000. Institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

FBIO has been the topic of a number of research analyst reports. StockNews.com raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th. Alliance Global Partners assumed coverage on shares of Fortress Biotech in a report on Tuesday, March 19th. They set a “buy” rating and a $5.00 price objective on the stock. Roth Mkm reiterated a “buy” rating and set a $10.00 price objective on shares of Fortress Biotech in a report on Thursday, May 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th.

Fortress Biotech Company Profile

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.