B. Riley Reaffirms “Buy” Rating for Fortress Biotech (NASDAQ:FBIO)

B. Riley restated their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a research report report published on Monday, The Fly reports. The firm currently has a $9.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $8.00.

A number of other equities research analysts have also recently weighed in on FBIO. Zacks Investment Research upgraded Fortress Biotech from a hold rating to a buy rating and set a $4.75 price objective for the company in a research note on Tuesday, March 23rd. HC Wainwright reissued a buy rating and set a $10.00 price target on shares of Fortress Biotech in a research report on Friday, February 26th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Fortress Biotech in a research report on Thursday, April 1st. Finally, Dawson James increased their target price on shares of Fortress Biotech from $16.00 to $21.00 and gave the company a buy rating in a research report on Wednesday, February 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $9.75.

NASDAQ:FBIO opened at $4.24 on Monday. The firm has a 50-day simple moving average of $4.02 and a 200-day simple moving average of $3.39. Fortress Biotech has a one year low of $1.84 and a one year high of $5.08. The firm has a market cap of $397.30 million, a P/E ratio of -4.99 and a beta of 2.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.35 and a current ratio of 6.38.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Tuesday, March 30th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Fortress Biotech had a negative net margin of 131.98% and a negative return on equity of 44.08%. On average, research analysts predict that Fortress Biotech will post -0.76 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp purchased a new stake in Fortress Biotech during the 4th quarter worth approximately $32,000. Federated Hermes Inc. acquired a new stake in shares of Fortress Biotech during the third quarter worth $41,000. Spotlight Asset Group Inc. purchased a new stake in shares of Fortress Biotech during the first quarter valued at $38,000. WMS Partners LLC acquired a new position in shares of Fortress Biotech in the 4th quarter valued at $37,000. Finally, Susquehanna International Group LLP purchased a new position in Fortress Biotech in the 4th quarter worth $43,000. Institutional investors own 32.13% of the company’s stock.

Fortress Biotech Company Profile

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company 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; Ximino to treat inflammatory lesions of severe acne vulgaris.

See Also: How dollar cost averaging works

The Fly

Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.