Fortress Biotech (NASDAQ:FBIO) Receives “Buy” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their buy rating on shares of Fortress Biotech (NASDAQ:FBIOGet Rating) in a report issued on Friday morning, TipRanks reports. Cantor Fitzgerald currently has a $6.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on FBIO. TheStreet cut Fortress Biotech from a c- rating to a d+ rating in a research note on Monday, February 14th. Zacks Investment Research raised Fortress Biotech from a strong sell rating to a hold rating in a research note on Friday. Roth Capital reissued a buy rating on shares of Fortress Biotech in a research note on Tuesday, March 29th. Finally, StockNews.com cut Fortress Biotech from a hold rating to a sell rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $9.50.

NASDAQ FBIO traded up $0.06 during trading hours on Friday, reaching $0.86. 695,679 shares of the stock traded hands, compared to its average volume of 677,202. The stock has a 50 day simple moving average of $1.21 and a two-hundred day simple moving average of $2.03. Fortress Biotech has a 1 year low of $0.79 and a 1 year high of $4.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.43 and a quick ratio of 3.33. The company has a market cap of $91.92 million, a price-to-earnings ratio of -1.00 and a beta of 2.27.

Fortress Biotech (NASDAQ:FBIOGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.10. Fortress Biotech had a negative return on equity of 31.30% and a negative net margin of 88.31%. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, sell-side analysts forecast that Fortress Biotech will post -0.93 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its stake in shares of Fortress Biotech by 768.2% in the 2nd quarter. Morgan Stanley now owns 266,945 shares of the biopharmaceutical company’s stock worth $953,000 after acquiring an additional 236,198 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Fortress Biotech by 102.1% in the 2nd quarter. Bank of America Corp DE now owns 106,334 shares of the biopharmaceutical company’s stock worth $379,000 after acquiring an additional 53,730 shares in the last quarter. Millennium Management LLC increased its stake in shares of Fortress Biotech by 73.3% in the 2nd quarter. Millennium Management LLC now owns 34,621 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 14,646 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Fortress Biotech by 108.4% in the 2nd quarter. Wells Fargo & Company MN now owns 151,972 shares of the biopharmaceutical company’s stock worth $543,000 after acquiring an additional 79,049 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Fortress Biotech in the 3rd quarter worth about $79,000. 30.92% of the stock is owned by institutional investors and hedge funds.

About Fortress Biotech (Get Rating)

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris; Targadox for severe acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; and Accutane capsules for severe recalcitrant nodular acne.

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