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

Wall Street Zen downgraded shares of Fortress Biotech (NASDAQ:FBIO) from a strong-buy rating to a hold rating in a research report report published on Saturday morning.

A number of other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fortress Biotech in a report on Wednesday, July 8th. Citigroup reiterated a “buy” rating on shares of Fortress Biotech in a report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Fortress Biotech Stock Performance

Shares of Fortress Biotech stock opened at $2.93 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.77 and a current ratio of 2.86. Fortress Biotech has a 1 year low of $1.97 and a 1 year high of $4.53. The firm’s 50-day simple moving average is $3.07 and its 200-day simple moving average is $2.94. The firm has a market cap of $97.33 million, a PE ratio of 1.11 and a beta of 1.21.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $18.72 million during the quarter, compared to the consensus estimate of $18.30 million. Fortress Biotech had a return on equity of 101.74% and a net margin of 163.32%.

Institutional Investors Weigh In On Fortress Biotech

Several institutional investors and hedge funds have recently bought and sold shares of FBIO. Opaleye Management Inc. acquired a new stake in Fortress Biotech during the fourth quarter worth about $3,989,000. Vanguard Group Inc. grew its holdings in shares of Fortress Biotech by 11.4% during the third 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. Shikiar Asset Management Inc. grew its holdings in shares of Fortress Biotech by 9.7% during the first quarter. Shikiar Asset Management Inc. now owns 305,469 shares of the biopharmaceutical company’s stock valued at $852,000 after purchasing an additional 27,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fortress Biotech by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 262,492 shares of the biopharmaceutical company’s stock valued at $961,000 after purchasing an additional 18,071 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Fortress Biotech during the 4th quarter worth approximately $667,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Fortress Biotech

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.