Fortress Biotech (NASDAQ:FBIO) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.76 and traded as high as $1.78. Fortress Biotech shares last traded at $1.70, with a volume of 129,418 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a "buy" rating and set a $16.00 price objective (up previously from $15.00) on shares of Fortress Biotech in a report on Tuesday, March 11th.

Fortress Biotech Stock Performance

The company has a market cap of $53.97 million, a price-to-earnings ratio of -0.60 and a beta of 1.85. The company has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.76.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.53. The firm had revenue of $15.12 million for the quarter, compared to analyst estimates of $16.30 million. Equities analysts expect that Fortress Biotech, Inc. will post -3.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HB Wealth Management LLC lifted its holdings in Fortress Biotech by 6.1% during the 1st quarter. HB Wealth Management LLC now owns 113,350 shares of the biopharmaceutical company's stock worth $177,000 after buying an additional 6,500 shares during the period. PFG Investments LLC lifted its holdings in Fortress Biotech by 28.4% during the 1st quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company's stock worth $71,000 after buying an additional 10,000 shares during the period. Wolverine Trading LLC acquired a new position in Fortress Biotech during the 4th quarter worth about $26,000. PVG Asset Management Corp lifted its holdings in Fortress Biotech by 3.3% during the 4th quarter. PVG Asset Management Corp now owns 386,295 shares of the biopharmaceutical company's stock worth $782,000 after buying an additional 12,505 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in Fortress Biotech by 28.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 59,400 shares of the biopharmaceutical company's stock worth $120,000 after buying an additional 13,300 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

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.