Fortress Biotech (NASDAQ:FBIO) Trading Down 1.1%

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.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.05. The firm had revenue of $12.92 million during the quarter, compared to analyst estimates of $11.44 million. Fortress Biotech had a negative net margin of 124.73% and a negative return on equity of 58.31%. Sell-side analysts forecast that Fortress Biotech will post -0.83 EPS for the current fiscal year.

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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