Fortress Biotech (NASDAQ:FBIO) Stock Rating Lowered by Wall Street Zen

Fortress Biotech (NASDAQ:FBIO) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Fortress Biotech in a research note on Wednesday, July 8th. Citigroup restated a “buy” rating on shares of Fortress Biotech in a research note on Monday, May 18th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

Fortress Biotech Price Performance

Shares of FBIO opened at $2.93 on Friday. Fortress Biotech has a 52-week low of $1.97 and a 52-week high of $4.53. The company has a market capitalization of $97.33 million, a PE ratio of 1.11 and a beta of 1.21. The stock has a fifty day simple moving average of $3.07 and a two-hundred day simple moving average of $2.93. The company has a quick ratio of 3.83, a current ratio of 3.96 and a debt-to-equity ratio of 0.17.

Fortress Biotech (NASDAQ:FBIO) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. Fortress Biotech had a net margin of 163.32% and a return on equity of 83.47%. The company had revenue of $18.72 million during the quarter, compared to analyst estimates of $18.30 million.

Hedge Funds Weigh In On Fortress Biotech

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position 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 worth $26,000 after acquiring an additional 6,426 shares during the last quarter. Visionary Wealth Advisors acquired a new position in Fortress Biotech in the 4th quarter valued at $41,000. XTX Topco Ltd purchased a new position in shares of Fortress Biotech during the 2nd quarter worth $42,000. Osaic Holdings Inc. lifted its stake in shares of Fortress Biotech by 18.4% during the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 5,034 shares during the period. Finally, Scientech Research LLC acquired a new stake in shares of Fortress Biotech during the third quarter worth $67,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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.