Fortress Biotech (NASDAQ:FBIO – Get Free Report) 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.
View Our Latest Report on Fortress Biotech
Fortress Biotech Trading Up 1.8 %
Fortress Biotech (NASDAQ:FBIO – Get Free Report) 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.
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