Fortress Biotech (NASDAQ:FBIO)’s share price fell 1.1% during mid-day trading on Monday . The stock traded as low as $2.55 and last traded at $2.58, 10,546 shares were traded during trading. A decline of 99% from the average session volume of 1,144,723 shares. The stock had previously closed at $2.61.
Several brokerages have issued reports on FBIO. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a report on Tuesday, March 17th. B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of Fortress Biotech in a report on Monday, May 18th. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of Fortress Biotech in a report on Friday, May 8th. Finally, ValuEngine upgraded shares of Fortress Biotech from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $9.20.
The stock has a market capitalization of $219.78 million, a PE ratio of -2.89 and a beta of 2.15. The company has a current ratio of 3.07, a quick ratio of 3.05 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average is $2.80 and its 200 day moving average is $2.35.
Several institutional investors have recently made changes to their positions in FBIO. Renaissance Technologies LLC increased its holdings in shares of Fortress Biotech by 108.4% during the 4th quarter. Renaissance Technologies LLC now owns 368,100 shares of the biopharmaceutical company’s stock valued at $946,000 after purchasing an additional 191,481 shares in the last quarter. Oxford Asset Management LLP boosted its position in shares of Fortress Biotech by 323.7% during the 4th quarter. Oxford Asset Management LLP now owns 244,277 shares of the biopharmaceutical company’s stock valued at $628,000 after acquiring an additional 186,629 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Fortress Biotech by 73.3% during the 1st quarter. Acadian Asset Management LLC now owns 439,160 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 185,793 shares during the last quarter. Credit Suisse AG acquired a new position in shares of Fortress Biotech during the 4th quarter valued at about $290,000. Finally, Jane Street Group LLC acquired a new position in shares of Fortress Biotech during the 1st quarter valued at about $117,000. 15.79% of the stock is owned by hedge funds and other institutional investors.
Fortress Biotech Company Profile (NASDAQ:FBIO)
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. It 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; Ala-Scalp and Triderm, which are used for the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses; and Ala-Quin, an antibacterial and antifungal cream.
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