Fortress Biotech (NASDAQ:FBIO) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Shares of Fortress Biotech crossed above their two hundred day moving average of $1.94, reaching a high of $3.65 before closing at $3.43.
• Despite a reported earnings miss with a loss of ($0.46) per share against expectations of ($0.31), the company generated revenue of $16.41 million, surpassing the forecast of $14.53 million.
• HC Wainwright downgraded its price target from $26.00 to $17.00 for Fortress Biotech, yet the overall consensus among analysts remains a "Buy" rating with an average target of $16.50.

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.94 and traded as high as $3.65. Fortress Biotech shares last traded at $3.43, with a volume of 1,434,218 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HC Wainwright dropped 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. Wall Street Zen raised shares of Fortress Biotech from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $16.50.

Fortress Biotech Trading Up 3.1%

The business's 50-day moving average price is $2.45 and its 200 day moving average price is $1.98. The company has a market cap of $109.18 million, a P/E ratio of -3.50 and a beta of 1.61. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.70 and a current ratio of 1.92.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last announced its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.15). The company had revenue of $16.41 million for the quarter, compared to the consensus estimate of $14.53 million. Fortress Biotech had a negative return on equity of 301.81% and a negative net margin of 24.84%. As a group, analysts expect that Fortress Biotech, Inc. will post -3.28 earnings per share for the current year.

Institutional Trading of Fortress Biotech

Several hedge funds and other institutional investors have recently modified their holdings of FBIO. Nantahala Capital Management LLC raised its stake in Fortress Biotech by 159.3% in the 1st quarter. Nantahala Capital Management LLC now owns 325,520 shares of the biopharmaceutical company's stock worth $508,000 after purchasing an additional 200,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Fortress Biotech by 8.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,004,365 shares of the biopharmaceutical company's stock worth $1,567,000 after purchasing an additional 80,058 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Fortress Biotech in the 4th quarter worth about $109,000. Panagora Asset Management Inc. acquired a new stake in Fortress Biotech in the 2nd quarter worth about $93,000. Finally, Shikiar Asset Management Inc. raised its stake in Fortress Biotech by 18.0% in the 2nd quarter. Shikiar Asset Management Inc. now owns 278,469 shares of the biopharmaceutical company's stock worth $518,000 after purchasing an additional 42,500 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

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.