Fortress Biotech (NASDAQ: FBIO) Upgraded by StockNews.com to “Hold”
Trading Down by 5.8%
Shares of Fortress Biotech (FBIO) opened at $1.79 on Thursday, but later traded down by 5.8%.
StockNews.com Upgrade
Stock analysts at StockNews.com have upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Other Brokerages Weigh In
- Roth Mkm reissued a “buy” rating and set a $10.00 price objective for Fortress Biotech shares on May 16th.
- Alliance Global Partners initiated coverage on Fortress Biotech with a “buy” rating and a $5.00 price target on March 19th.
Stock Performance Metrics
- Opening price on Thursday: $1.79
- Fifty-day simple moving average: $1.81
- Two-hundred-day simple moving average: $2.07
- Twelve-month low: $1.24
- Twelve-month high: $10.65
- Market capitalization: $35.66 million
- P/E ratio: -0.29
- Beta: 1.68
- Quick ratio: 1.21
- Current ratio: 1.33
- Debt-to-equity ratio: 38.42
Recent Financial Results
Fortress Biotech reported its quarterly earnings results on Wednesday, May 15th:
- Earnings per share (EPS): ($1.03), beating analysts’ estimates of ($2.03)
- Revenue: $13.03 million, compared to analyst estimates of $14.33 million
- Negative return on equity: 770.86%
- Negative net margin: 69.13%
Sell-side analysts predict that Fortress Biotech will report an EPS of -5.07 for the current fiscal year.
Hedge Fund Activity
Several hedge funds have made recent moves involving Fortress Biotech shares:
- Armistice Capital LLC: Purchased a new stake worth $1,794,000 during the fourth quarter.
- Acadian Asset Management LLC: Increased its position by 124.3%, owning 292,058 shares valued at $582,000 as of the first quarter.
- PVG Asset Management Corp: Purchased a new stake worth $396,000 during the fourth quarter.
- Shikiar Asset Management Inc: Increased its position by 21.8%, owning 223,136 shares valued at $446,000 as of the first quarter.
- Choreo LLC: Purchased a new stake worth $109,000 during the fourth quarter.
96.51% of Fortress Biotech stock is owned by institutional investors.
About Fortress Biotech
Fortress Biotech, Inc. is a biopharmaceutical company focusing on developing and commercializing pharmaceutical and biotechnology products. The company’s marketed dermatology products include:
- Ximino: Oral minocycline for moderate to severe acne
- Targadox: Oral doxycycline for severe acne
- Exelderm cream: Topical antifungal
- Qbrexza: Medicated cloth for primary axillary hyperhidrosis
- Amzeeq
- Zilxi
- Accutane capsules: For severe recalcitrant nodular acne
Fortress Biotech continues to be a significant player in the biopharmaceutical field despite recent stock fluctuations.
