News articles about Fortress Biotech (NASDAQ:FBIO) have been trending positive on Tuesday, according to AlphaOne. The research firm, a division of Accern, scores the sentiment of news coverage by reviewing more than twenty million news and blog sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Fortress Biotech earned a media sentiment score of 0.28 on AlphaOne’s scale. AlphaOne also assigned media stories about the biopharmaceutical company an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an effect on the company’s share price in the near future.
Shares of Fortress Biotech (NASDAQ:FBIO) traded up 2.16% during mid-day trading on Tuesday, reaching $4.72. The company’s stock had a trading volume of 90,183 shares. The company’s 50 day moving average price is $3.99 and its 200-day moving average price is $3.20. The company’s market capitalization is $237.57 million. Fortress Biotech has a 1-year low of $1.88 and a 1-year high of $4.78.
Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $2.78 million during the quarter, compared to the consensus estimate of $47.04 million. Fortress Biotech had a negative return on equity of 63.99% and a negative net margin of 269.14%. Analysts predict that Fortress Biotech will post ($1.28) earnings per share for the current fiscal year.
Several analysts have commented on the company. ValuEngine raised Fortress Biotech from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Zacks Investment Research raised Fortress Biotech from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Tuesday, June 13th. FBR & Co reissued a “buy” rating on shares of Fortress Biotech in a report on Thursday, April 6th. Finally, JMP Securities assumed coverage on Fortress Biotech in a report on Wednesday, March 22nd. They issued an “outperform” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Fortress Biotech has a consensus rating of “Buy” and an average price target of $9.00.
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About Fortress Biotech
Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.
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