Fortress Biotech (NASDAQ:FBIO) Raised to “Strong-Buy” at Zacks Research

Fortress Biotech (NASDAQ:FBIO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen raised Fortress Biotech from a “hold” rating to a “buy” rating in a research note on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fortress Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Fortress Biotech Trading Down 0.1%

NASDAQ FBIO opened at $3.48 on Wednesday. The firm’s 50 day moving average price is $3.21 and its two-hundred day moving average price is $2.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.97 and a current ratio of 2.19. Fortress Biotech has a twelve month low of $1.33 and a twelve month high of $4.53. The stock has a market cap of $107.86 million, a price-to-earnings ratio of -19.42 and a beta of 1.42.

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

Institutional Trading of Fortress Biotech

A number of institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Fortress Biotech by 65.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,017 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 20,266 shares during the last quarter. Scientech Research LLC acquired a new position in Fortress Biotech during the third quarter worth $67,000. Bank of America Corp DE raised its holdings in 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 buying an additional 6,426 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Fortress Biotech by 85.4% in the third quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 39,149 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Fortress Biotech by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock worth $3,511,000 after acquiring an additional 97,405 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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.