Fortress Biotech (NASDAQ:FBIO) Upgraded at Zacks Research

Zacks Research upgraded shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on FBIO. Weiss Ratings reissued a “sell (d+)” rating on shares of Fortress Biotech in a report on Monday, December 29th. Wall Street Zen raised shares of Fortress Biotech from a “hold” rating to a “buy” rating in a research note on Sunday, November 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Fortress Biotech Price Performance

Shares of NASDAQ:FBIO opened at $3.72 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.97 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $3.23 and its two-hundred day moving average is $2.80. The firm has a market capitalization of $115.47 million, a P/E ratio of -20.67 and a beta of 1.42. Fortress Biotech has a 52 week low of $1.33 and a 52 week high of $4.53.

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

Institutional Trading of Fortress Biotech

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in Fortress Biotech by 65.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,017 shares of the biopharmaceutical company’s stock worth $187,000 after buying an additional 20,266 shares during the last quarter. Scientech Research LLC acquired a new stake in shares of Fortress Biotech during the third quarter worth $67,000. Bank of America Corp DE lifted its holdings in shares of Fortress Biotech by 923.3% during the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 6,426 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Fortress Biotech by 85.4% during the third quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 39,149 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Fortress Biotech by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock valued at $3,511,000 after purchasing an additional 97,405 shares during the period. 96.51% of the stock is currently owned by institutional investors.

About Fortress Biotech

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.