Fortress Biotech (NASDAQ:FBIO) Stock Rating Upgraded by Wall Street Zen

Fortress Biotech (NASDAQ:FBIO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

FBIO has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Fortress Biotech in a research report on Wednesday, October 8th. HC Wainwright reduced their target price on shares of Fortress Biotech from $26.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.50.

Fortress Biotech Stock Performance

Shares of FBIO opened at $2.70 on Friday. Fortress Biotech has a 12-month low of $1.33 and a 12-month high of $4.20. The stock has a market cap of $80.33 million, a P/E ratio of -2.57 and a beta of 1.75. The company has a current ratio of 1.92, a quick ratio of 1.70 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average of $2.95 and a two-hundred day moving average of $2.19.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in Fortress Biotech in the second quarter valued at approximately $42,000. Osaic Holdings Inc. boosted its holdings in shares of Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 5,034 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Fortress Biotech by 28.4% in the 1st quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 10,000 shares during the last quarter. Weaver Consulting Group grew its stake in shares of Fortress Biotech by 101.8% during the 1st quarter. Weaver Consulting Group now owns 46,417 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 23,419 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Fortress Biotech during the 2nd quarter worth $93,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

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.