Fortress Biotech (NASDAQ:FBIO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other analysts have also weighed in on FBIO. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Fortress Biotech in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fortress Biotech in a research report on Friday, March 27th. Finally, Zacks Research lowered shares of Fortress Biotech from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.00.

Fortress Biotech Price Performance

Shares of Fortress Biotech stock opened at $2.41 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.30 and a current ratio of 2.49. The firm’s 50-day simple moving average is $2.63 and its 200-day simple moving average is $3.01. Fortress Biotech has a twelve month low of $1.66 and a twelve month high of $4.53. The firm has a market cap of $80.06 million, a P/E ratio of 0.76 and a beta of 1.16.

Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Thursday, May 14th. The biopharmaceutical company reported $2.82 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $3.04. Fortress Biotech had a net margin of 193.12% and a return on equity of 183.28%. The business had revenue of $16.04 million for the quarter, compared to analyst estimates of $16.34 million. As a group, research analysts expect that Fortress Biotech will post 0.62 EPS for the current fiscal year.

Institutional Trading of Fortress Biotech

Large investors have recently added to or reduced their stakes in the company. Shikiar Asset Management Inc. grew its stake in Fortress Biotech by 9.7% during the first quarter. Shikiar Asset Management Inc. now owns 305,469 shares of the biopharmaceutical company’s stock worth $852,000 after buying an additional 27,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Fortress Biotech by 22.8% during the 1st quarter. Renaissance Technologies LLC now owns 99,590 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 18,490 shares in the last quarter. Opaleye Management Inc. bought a new position in Fortress Biotech in the 4th quarter valued at $3,989,000. Vanguard Group Inc. raised its position in Fortress Biotech by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after purchasing an additional 97,405 shares during the last quarter. Finally, State Street Corp raised its position in Fortress Biotech by 11.5% in the 4th quarter. State Street Corp now owns 77,266 shares of the biopharmaceutical company’s stock valued at $283,000 after purchasing an additional 8,000 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Fortress Biotech Company Profile

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.