Fortress Biotech (NASDAQ:FBIO) reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.15 and last traded at $1.17, with a volume of 6625 shares. The stock had previously closed at $1.29.

FBIO has been the subject of several analyst reports. HC Wainwright set a $11.00 price objective on Fortress Biotech and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, ValuEngine downgraded shares of Fortress Biotech from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $10.67.

The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.76. The firm has a market cap of $86.95 million, a P/E ratio of -0.71 and a beta of 0.17.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.50) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.09. Fortress Biotech had a negative net margin of 47.97% and a negative return on equity of 71.96%. The firm had revenue of $63.83 million during the quarter, compared to the consensus estimate of $48.93 million. As a group, equities analysts predict that Fortress Biotech will post -2.21 earnings per share for the current year.

Several large investors have recently made changes to their positions in FBIO. Wells Fargo & Company MN raised its position in Fortress Biotech by 29.4% in the 1st quarter. Wells Fargo & Company MN now owns 60,987 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 13,862 shares during the period. The Manufacturers Life Insurance Company raised its position in Fortress Biotech by 264.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 30,024 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 21,792 shares during the period. Citadel Advisors LLC purchased a new stake in Fortress Biotech in the 1st quarter worth about $126,000. Macquarie Group Ltd. raised its position in Fortress Biotech by 109.0% in the 2nd quarter. Macquarie Group Ltd. now owns 97,982 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 51,100 shares during the period. Finally, Strs Ohio raised its position in Fortress Biotech by 60.1% in the 2nd quarter. Strs Ohio now owns 202,100 shares of the biopharmaceutical company’s stock worth $602,000 after purchasing an additional 75,900 shares during the period. 13.61% of the stock is owned by hedge funds and other institutional investors.

About Fortress Biotech (NASDAQ:FBIO)

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.

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