Shares of Fortress Biotech (NASDAQ:FBIO) have been given an average rating of “Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.67.
Several research analysts recently commented on the company. Zacks Investment Research lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. HC Wainwright set a $11.00 price target on Fortress Biotech and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine lowered Fortress Biotech from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Finally, JMP Securities set a $11.00 price target on Fortress Biotech and gave the stock a “buy” rating in a research report on Monday, May 21st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in Fortress Biotech by 264.7% in the first quarter. The Manufacturers Life Insurance Company now owns 30,024 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 21,792 shares in the last quarter. BlackRock Inc. boosted its position in shares of Fortress Biotech by 1.0% during the fourth quarter. BlackRock Inc. now owns 1,787,645 shares of the biopharmaceutical company’s stock valued at $7,134,000 after buying an additional 18,384 shares during the period. Opaleye Management Inc. purchased a new position in shares of Fortress Biotech during the first quarter valued at approximately $1,433,000. Citadel Advisors LLC purchased a new position in shares of Fortress Biotech during the first quarter valued at approximately $126,000. Finally, Wells Fargo & Company MN boosted its position in shares of Fortress Biotech by 29.4% during the first quarter. Wells Fargo & Company MN now owns 60,987 shares of the biopharmaceutical company’s stock valued at $278,000 after buying an additional 13,862 shares during the period. Institutional investors own 12.68% of the company’s stock.
FBIO traded up $0.02 on Wednesday, hitting $1.93. The company had a trading volume of 6,340 shares, compared to its average volume of 157,657. The firm has a market cap of $110.57 million, a P/E ratio of -1.17 and a beta of 0.10. Fortress Biotech has a 12-month low of $1.41 and a 12-month high of $5.54. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.76.
Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.09. The company had revenue of $63.83 million during the quarter, compared to analyst estimates of $48.93 million. Fortress Biotech had a negative return on equity of 71.96% and a negative net margin of 47.97%. research analysts forecast that Fortress Biotech will post -2.55 earnings per share for the current fiscal year.
Fortress Biotech Company Profile
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.
Further Reading: Diversification in Your Portfolio
Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.