Fortress Biotech (NASDAQ:FBIO) Raised to “Strong-Buy” at Zacks Research

Fortress Biotech (NASDAQ:FBIO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Fortress Biotech from a “hold” rating to a “buy” rating in a research note on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fortress Biotech in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

Fortress Biotech Stock Up 6.1%

Shares of NASDAQ:FBIO opened at $3.48 on Wednesday. Fortress Biotech has a 1 year low of $1.33 and a 1 year high of $4.53. The business has a fifty day moving average price of $3.21 and a two-hundred day moving average price of $2.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.19 and a quick ratio of 1.97. The company has a market capitalization of $108.02 million, a PE ratio of -19.33 and a beta of 1.42.

Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Friday, November 14th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.54. Fortress Biotech had a negative return on equity of 69.39% and a net margin of 6.40%.The firm had revenue of $17.63 million for the quarter, compared to analyst estimates of $21.02 million. Analysts forecast that Fortress Biotech will post -3.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its stake in Fortress Biotech by 18.4% during the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 5,034 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Fortress Biotech by 6.4% in the second quarter. 180 Wealth Advisors LLC now owns 93,050 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 5,600 shares during the last quarter. Bank of America Corp DE grew its position in shares of Fortress Biotech by 923.3% during the 3rd quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 6,426 shares during the period. PFG Investments LLC increased its position in Fortress Biotech by 22.4% in the second quarter. PFG Investments LLC now owns 55,419 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 10,160 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in Fortress Biotech during the 3rd quarter worth approximately $54,000. Institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

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.