Fortress Biotech (NASDAQ:FBIO) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Fortress Biotech (NASDAQ:FBIO) from a buy rating to a hold rating in a research note released on Sunday.

Separately, HC Wainwright decreased their price objective on shares of Fortress Biotech from $26.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Fortress Biotech currently has an average rating of “Buy” and an average price target of $16.50.

Fortress Biotech Stock Performance

NASDAQ:FBIO opened at $3.69 on Friday. The stock has a market capitalization of $109.78 million, a P/E ratio of -3.51 and a beta of 1.61. The company has a current ratio of 1.92, a quick ratio of 1.70 and a debt-to-equity ratio of 1.34. Fortress Biotech has a 1 year low of $1.33 and a 1 year high of $4.20. The firm has a 50 day moving average of $2.71 and a 200-day moving average of $2.09.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.15). The business had revenue of $16.41 million for the quarter, compared to analyst estimates of $14.53 million. Fortress Biotech had a negative net margin of 24.84% and a negative return on equity of 301.81%. As a group, sell-side analysts anticipate that Fortress Biotech will post -3.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortress Biotech

Several large investors have recently bought and sold shares of FBIO. Wolverine Trading LLC acquired a new stake in Fortress Biotech during the 4th quarter worth $26,000. XTX Topco Ltd acquired a new position in shares of Fortress Biotech in the 2nd quarter valued at $42,000. Osaic Holdings Inc. boosted its position in shares of Fortress Biotech by 18.4% in 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 last quarter. Jane Street Group LLC acquired a new stake in shares of Fortress Biotech during the fourth quarter worth $69,000. Finally, PFG Investments LLC increased its holdings in Fortress Biotech by 28.4% in the first quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 10,000 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.