Fortress Biotech (FBIO) to Release Quarterly Earnings on Thursday

Fortress Biotech (NASDAQ:FBIOGet Free Report) is set to post its quarterly earnings results on Thursday, March 28th.

Fortress Biotech Price Performance

Shares of NASDAQ:FBIO opened at $1.93 on Wednesday. Fortress Biotech has a 1 year low of $1.24 and a 1 year high of $12.75. The stock’s fifty day moving average price is $1.94 and its 200-day moving average price is $2.60. The company has a market cap of $17.25 million, a P/E ratio of -0.16 and a beta of 1.52.

Wall Street Analyst Weigh In

FBIO has been the subject of a number of research reports. Alliance Global Partners started coverage on shares of Fortress Biotech in a research note on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price for the company. Roth Mkm began coverage on shares of Fortress Biotech in a report on Friday, March 15th. They set a “buy” rating and a $10.00 price target on the stock. Finally, StockNews.com cut Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

View Our Latest Analysis on Fortress Biotech

Insider Buying and Selling

In related news, CEO Lindsay A. Md Rosenwald acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were acquired at an average cost of $2.38 per share, for a total transaction of $119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,863,905 shares in the company, valued at approximately $6,816,093.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 26.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortress Biotech

Several hedge funds have recently added to or reduced their stakes in FBIO. Jefferies Financial Group Inc. purchased a new stake in Fortress Biotech in the fourth quarter worth $2,816,000. Renaissance Technologies LLC lifted its holdings in Fortress Biotech by 1,005.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock valued at $1,498,000 after buying an additional 1,001,653 shares in the last quarter. CI Private Wealth LLC purchased a new position in shares of Fortress Biotech during the fourth quarter worth approximately $519,000. Millennium Management LLC raised its stake in shares of Fortress Biotech by 569.9% during the second quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 745,405 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Fortress Biotech by 169.1% in the first quarter. Acadian Asset Management LLC now owns 424,693 shares of the biopharmaceutical company’s stock valued at $575,000 after purchasing an additional 266,853 shares during the period. 96.51% of the stock is currently owned by institutional investors.

About Fortress Biotech

(Get Free Report)

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.

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Earnings History for Fortress Biotech (NASDAQ:FBIO)

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