Fortress Biotech (NASDAQ:FBIO) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Fortress Biotech (NASDAQ:FBIO) from a buy rating to a hold rating in a report issued on Sunday morning.

Separately, HC Wainwright decreased their price target on Fortress Biotech from $26.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $16.50.

Fortress Biotech Price Performance

Shares of FBIO opened at $3.69 on Friday. The stock has a 50 day simple moving average of $2.71 and a 200 day simple moving average of $2.09. Fortress Biotech has a 52-week low of $1.33 and a 52-week high of $4.20. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.70 and a current ratio of 1.92. The firm has a market capitalization of $109.78 million, a PE ratio of -3.51 and a beta of 1.61.

Fortress Biotech (NASDAQ:FBIO) last released its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.15). The firm had revenue of $16.41 million for the quarter, compared to the consensus estimate of $14.53 million. Fortress Biotech had a negative return on equity of 301.81% and a negative net margin of 24.84%. Sell-side analysts predict that Fortress Biotech will post -3.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FBIO. Jane Street Group LLC bought a new stake in Fortress Biotech during the fourth quarter worth about $69,000. Two Sigma Investments LP bought a new stake in shares of Fortress Biotech during the 4th quarter worth $109,000. Wolverine Trading LLC acquired a new position in Fortress Biotech during the fourth quarter worth about $26,000. PFG Investments LLC raised its stake in Fortress Biotech by 28.4% during the first quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fortress Biotech by 8.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,004,365 shares of the biopharmaceutical company’s stock worth $1,567,000 after acquiring an additional 80,058 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.