Fortress Biotech, Inc. (NASDAQ:FBIO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) have been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.42.

FBIO has been the topic of a number of research analyst reports. B. Riley reduced their price target on Fortress Biotech from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, June 17th. Zacks Investment Research upgraded Fortress Biotech from a “sell” rating to a “hold” rating and set a $3.50 price target on the stock in a report on Tuesday, August 17th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Fortress Biotech by 4.5% in the second quarter. Vanguard Group Inc. now owns 5,372,743 shares of the biopharmaceutical company’s stock worth $19,180,000 after purchasing an additional 229,235 shares in the last quarter. BlackRock Inc. raised its holdings in Fortress Biotech by 2.9% in the first quarter. BlackRock Inc. now owns 4,856,371 shares of the biopharmaceutical company’s stock worth $17,143,000 after purchasing an additional 137,091 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fortress Biotech by 12.2% in the second quarter. Geode Capital Management LLC now owns 1,313,787 shares of the biopharmaceutical company’s stock worth $4,690,000 after purchasing an additional 143,328 shares in the last quarter. State Street Corp raised its holdings in Fortress Biotech by 12.8% in the second quarter. State Street Corp now owns 1,248,215 shares of the biopharmaceutical company’s stock worth $4,456,000 after purchasing an additional 141,445 shares in the last quarter. Finally, Shikiar Asset Management Inc. raised its holdings in Fortress Biotech by 2.9% in the first quarter. Shikiar Asset Management Inc. now owns 574,800 shares of the biopharmaceutical company’s stock worth $2,029,000 after purchasing an additional 16,300 shares in the last quarter. Institutional investors and hedge funds own 29.70% of the company’s stock.

Shares of FBIO traded up $0.02 during trading hours on Friday, hitting $3.23. The company had a trading volume of 1,754 shares, compared to its average volume of 1,046,314. The firm has a market cap of $326.43 million, a P/E ratio of -7.83 and a beta of 2.46. The stock’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.73. The company has a quick ratio of 4.33, a current ratio of 4.54 and a debt-to-equity ratio of 0.24. Fortress Biotech has a 52-week low of $2.12 and a 52-week high of $6.10.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings data on Sunday, August 15th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.15). Fortress Biotech had a negative return on equity of 15.34% and a negative net margin of 63.05%. On average, research analysts expect that Fortress Biotech will post -0.39 EPS for the current fiscal year.

About Fortress Biotech

Fortress Biotech, Inc engages in the manufacture and commercialization of novel pharmaceutical products and product candidates. It operates through the following Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development segments. Its products include Ximino, Targadox, Exelderm, Ceracade, and Luxamend.

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Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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