Fortress Biotech (NASDAQ:FBIO) Downgraded by Wall Street Zen to Hold

Fortress Biotech (NASDAQ:FBIO) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

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

Fortress Biotech Stock Down 0.3%

Fortress Biotech stock opened at $3.90 on Friday. The company has a market cap of $116.03 million, a P/E ratio of -3.71 and a beta of 1.61. Fortress Biotech has a 1-year low of $1.33 and a 1-year high of $4.20. The company has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $2.07. 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 (NASDAQ:FBIO) last released its 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 during the quarter, compared to the consensus estimate of $14.53 million. Fortress Biotech had a negative net margin of 24.84% and a negative return on equity of 301.81%. Research analysts anticipate that Fortress Biotech will post -3.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortress Biotech

Hedge funds have recently modified their holdings of the business. Wolverine Trading LLC acquired a new position in Fortress Biotech during the 4th quarter worth about $26,000. XTX Topco Ltd bought a new stake in Fortress Biotech in the second quarter worth approximately $42,000. Osaic Holdings Inc. increased its holdings in Fortress Biotech by 18.4% in the second 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 in the last quarter. Jane Street Group LLC acquired a new stake in Fortress Biotech in the fourth quarter worth $69,000. Finally, PFG Investments LLC raised its holdings in shares of Fortress Biotech by 28.4% during 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 period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Fortress Biotech Company Profile

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.