Fortress Biotech (NASDAQ:FBIO – Get Rating)‘s stock had its “buy” rating reissued by equities research analysts at Cantor Fitzgerald in a report released on Friday, TipRanks reports. They currently have a $6.00 price objective on the biopharmaceutical company’s stock.
FBIO has been the subject of a number of other reports. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research upgraded Fortress Biotech from a “strong sell” rating to a “hold” rating in a research note on Friday. TheStreet downgraded Fortress Biotech from a “c-” rating to a “d+” rating in a research note on Monday, February 14th. Finally, Roth Capital restated a “buy” rating on shares of Fortress Biotech in a research note on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $9.50.
FBIO traded up $0.06 during midday trading on Friday, reaching $0.86. 695,679 shares of the company were exchanged, compared to its average volume of 677,202. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.33 and a current ratio of 3.43. The company’s fifty day moving average price is $1.21 and its 200 day moving average price is $2.03. 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 has a one year low of $0.79 and a one year high of $4.49.
A number of institutional investors have recently bought and sold shares of FBIO. Morgan Stanley lifted its stake in Fortress Biotech by 768.2% in the second quarter. Morgan Stanley now owns 266,945 shares of the biopharmaceutical company’s stock valued at $953,000 after purchasing an additional 236,198 shares during the last quarter. Bank of America Corp DE lifted its stake in Fortress Biotech by 102.1% in the second quarter. Bank of America Corp DE now owns 106,334 shares of the biopharmaceutical company’s stock valued at $379,000 after purchasing an additional 53,730 shares during the last quarter. Millennium Management LLC lifted its stake in Fortress Biotech by 73.3% in the second quarter. Millennium Management LLC now owns 34,621 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 14,646 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Fortress Biotech by 108.4% in the second quarter. Wells Fargo & Company MN now owns 151,972 shares of the biopharmaceutical company’s stock valued at $543,000 after purchasing an additional 79,049 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Fortress Biotech in the third quarter valued at approximately $79,000. Institutional investors and hedge funds own 30.92% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Fortress Biotech (FBIO)
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