Fortress Biotech (NASDAQ:FBIO) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Fortress Biotech's stock price recently surpassed its 200-day moving average of $2.18, reaching a peak of $2.90 before settling at $2.74.
• The company received a downgrade to a hold rating from Wall Street Zen and a reaffirmed sell (d-) rating from Weiss Ratings, influencing the stock's average rating to "Hold".
• Fortress Biotech reported a quarterly loss of ($0.46) earnings per share, missing estimates by $0.15, but did achieve higher than expected revenue of $16.41 million.

Shares of Fortress Biotech, Inc. (NASDAQ:FBIO - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.18 and traded as high as $2.90. Fortress Biotech shares last traded at $2.74, with a volume of 726,835 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FBIO shares. Wall Street Zen downgraded shares of Fortress Biotech from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fortress Biotech in a research report on Wednesday, October 8th. Finally, HC Wainwright decreased their price objective 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.50.

Fortress Biotech Stock Down 2.8%

The company has a quick ratio of 1.70, a current ratio of 1.92 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $81.52 million, a PE ratio of -2.61 and a beta of 1.75. The firm's fifty day moving average is $2.93 and its 200-day moving average is $2.18.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last posted its quarterly 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). Fortress Biotech had a negative net margin of 24.84% and a negative return on equity of 301.81%. The business had revenue of $16.41 million during the quarter, compared to analysts' expectations of $14.53 million. On average, equities research analysts predict that Fortress Biotech, Inc. will post -3.28 earnings per share for the current year.

Hedge Funds Weigh In On Fortress Biotech

A number of large investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC grew its position in shares of Fortress Biotech by 159.3% in the first quarter. Nantahala Capital Management LLC now owns 325,520 shares of the biopharmaceutical company's stock valued at $508,000 after purchasing an additional 200,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted 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 buying an additional 80,058 shares in the last quarter. Sheets Smith Investment Management acquired a new stake in Fortress Biotech during the 3rd quarter valued at $270,000. Panagora Asset Management Inc. acquired a new stake in Fortress Biotech during the 2nd quarter valued at $93,000. Finally, Shikiar Asset Management Inc. increased its position in Fortress Biotech by 18.0% during the second quarter. Shikiar Asset Management Inc. now owns 278,469 shares of the biopharmaceutical company's stock worth $518,000 after buying an additional 42,500 shares in the last quarter. Hedge funds and other 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.

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