Fortress Biotech (NASDAQ:FBIO) Stock Price Up 8.7%

Share on StockTwits

Fortress Biotech (NASDAQ:FBIO)’s stock price rose 8.7% on Friday . The company traded as high as $1.41 and last traded at $1.37, approximately 372,217 shares traded hands during trading. A decline of 44% from the average daily volume of 663,360 shares. The stock had previously closed at $1.26.

FBIO has been the subject of a number of recent research reports. Zacks Investment Research downgraded General Finance from a “buy” rating to a “hold” rating in a research report on Monday. HC Wainwright upped their price target on Acceleron Pharma from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Roth Capital reaffirmed a “sell” rating on shares of Ballard Power Systems in a research report on Monday, July 1st.

The company has a current ratio of 2.79, a quick ratio of 2.78 and a debt-to-equity ratio of 1.94. The stock has a 50-day moving average of $1.62. The stock has a market capitalization of $89.37 million, a PE ratio of -0.46 and a beta of 2.50.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.31. The firm had revenue of $6.48 million for the quarter, compared to analyst estimates of $6.41 million. Equities analysts predict that Fortress Biotech will post -1.29 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. National Asset Management Inc. boosted its holdings in shares of Fortress Biotech by 18.4% in the 1st quarter. National Asset Management Inc. now owns 56,417 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 8,750 shares during the last quarter. Cpwm LLC boosted its holdings in shares of Fortress Biotech by 11.7% in the 1st quarter. Cpwm LLC now owns 191,000 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 20,000 shares during the last quarter. Dowling & Yahnke LLC acquired a new stake in shares of Fortress Biotech in the 1st quarter valued at approximately $36,000. Two Sigma Investments LP boosted its holdings in shares of Fortress Biotech by 96.5% in the 4th quarter. Two Sigma Investments LP now owns 30,954 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 15,200 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Fortress Biotech by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 379,972 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 43,239 shares during the last quarter. 13.13% of the stock is owned by hedge funds and other institutional investors.

About Fortress Biotech (NASDAQ:FBIO)

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.

Featured Article: How to execute a trade ex-dividend strategy?

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Elite   Trading 6.5% Lower  This Week
Elite Trading 6.5% Lower This Week
Bolenum  24 Hour Trading Volume Reaches $31.00
Bolenum 24 Hour Trading Volume Reaches $31.00
SF Capital  Price Up 62.5% Over Last Week
SF Capital Price Up 62.5% Over Last Week
Maincoin  Price Hits $0.0030
Maincoin Price Hits $0.0030
AdHive Price Reaches $0.0033
AdHive Price Reaches $0.0033
Analysts Expect Myomo, Inc.  Will Post Quarterly Sales of $1.54 Million
Analysts Expect Myomo, Inc. Will Post Quarterly Sales of $1.54 Million


 
© 2006-2019 Zolmax.