Fortress Biotech (NASDAQ:FBIO) Shares Cross Above 200-Day Moving Average – What’s Next?

Fortress Biotech, Inc. (NASDAQ:FBIO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.98 and traded as high as $3.80. Fortress Biotech shares last traded at $3.74, with a volume of 461,078 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on FBIO. Zacks Research upgraded Fortress Biotech from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. Wall Street Zen raised shares of Fortress Biotech from a “hold” rating to a “buy” rating in a research report on Sunday, November 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Fortress Biotech in a research report on Monday, December 29th. One equities research 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.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Fortress Biotech Stock Up 2.2%

The company has a quick ratio of 1.97, a current ratio of 2.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $116.09 million, a price-to-earnings ratio of -20.78 and a beta of 1.43. The stock has a 50 day moving average of $3.48 and a 200 day moving average of $2.98.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings results 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. Fortress Biotech had a net margin of 6.40% and a negative return on equity of 69.39%. The company had revenue of $17.63 million for the quarter, compared to the consensus estimate of $21.02 million. As a group, analysts expect that Fortress Biotech, Inc. will post -3.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in shares of Fortress Biotech by 18.4% during the second quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 5,034 shares during the period. 180 Wealth Advisors LLC boosted its stake in Fortress Biotech by 6.4% during the 2nd quarter. 180 Wealth Advisors LLC now owns 93,050 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 5,600 shares during the period. PFG Investments LLC grew its position in Fortress Biotech by 22.1% in the 4th quarter. PFG Investments LLC now owns 34,701 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 6,282 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Fortress Biotech by 923.3% in 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 period. Finally, Abacus Planning Group Inc. acquired a new stake in shares of Fortress Biotech in the third quarter valued at approximately $54,000. 96.51% of the stock is currently owned by institutional investors.

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.