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

Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.76 and traded as high as $1.95. Fortress Biotech shares last traded at $1.84, with a volume of 121,095 shares traded.

Analysts Set New Price Targets

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

Fortress Biotech Stock Performance

The business's 50 day moving average is $1.68 and its 200-day moving average is $1.77. The stock has a market cap of $59.14 million, a price-to-earnings ratio of -0.66 and a beta of 1.76.

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

Institutional Investors Weigh In On Fortress Biotech

A number of institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. grew 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 valued at $1,567,000 after acquiring an additional 80,058 shares during the period. PVG Asset Management Corp boosted its stake 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 purchasing an additional 12,505 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Fortress Biotech by 159.3% during 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 during the last quarter. Envestnet Asset Management Inc. boosted its stake in Fortress Biotech by 11.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 267,908 shares of the biopharmaceutical company's stock worth $418,000 after purchasing an additional 28,314 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fortress Biotech by 21.3% during the 4th quarter. Geode Capital Management LLC now owns 204,537 shares of the biopharmaceutical company's stock worth $414,000 after purchasing an additional 35,930 shares during the last quarter. Institutional investors and hedge funds 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.