Zacks Investment Research cut shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “
A number of other equities research analysts have also recently commented on FBIO. B. Riley started coverage on shares of Fortress Biotech in a research note on Wednesday, February 28th. They set a buy rating and a $10.00 target price on the stock. ValuEngine upgraded shares of Fortress Biotech from a sell rating to a hold rating in a research note on Thursday, March 1st. BidaskClub upgraded shares of Fortress Biotech from a sell rating to a hold rating in a research note on Sunday, March 11th. Finally, HC Wainwright restated a buy rating and set a $11.00 target price on shares of Fortress Biotech in a research note on Friday, March 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $10.67.
Shares of Fortress Biotech opened at $3.61 on Wednesday, Marketbeat.com reports. Fortress Biotech has a twelve month low of $3.14 and a twelve month high of $5.54. The company has a current ratio of 2.52, a quick ratio of 2.71 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $193.62 million, a PE ratio of -2.24 and a beta of 0.22.
Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Friday, March 16th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.57) by $0.36. Fortress Biotech had a negative net margin of 49.31% and a negative return on equity of 60.74%. The firm had revenue of $45.32 million for the quarter, compared to analysts’ expectations of $48.03 million. analysts expect that Fortress Biotech will post -2.31 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIO. Wells Fargo & Company MN raised its stake in Fortress Biotech by 365.4% during the 3rd quarter. Wells Fargo & Company MN now owns 119,736 shares of the biopharmaceutical company’s stock worth $529,000 after acquiring an additional 94,008 shares during the period. Strs Ohio raised its stake in Fortress Biotech by 14.3% during the 4th quarter. Strs Ohio now owns 158,700 shares of the biopharmaceutical company’s stock worth $633,000 after acquiring an additional 19,800 shares during the period. BlackRock Inc. raised its stake in Fortress Biotech by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,787,645 shares of the biopharmaceutical company’s stock worth $7,134,000 after acquiring an additional 18,384 shares during the period. HighPoint Advisor Group LLC bought a new stake in Fortress Biotech during the 4th quarter worth approximately $416,000. Finally, Citadel Advisors LLC bought a new stake in shares of Fortress Biotech during the first quarter valued at approximately $126,000. Institutional investors own 11.46% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.