Fortress Biotech (NASDAQ:FBIO) Raised to "Buy" at Wall Street Zen

Key Points

• Fortress Biotech has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased confidence among analysts.
• HC Wainwright has revised its price target for Fortress Biotech from $26.00 to $17.00, while maintaining a "buy" rating.
• The company's recent earnings report showed a loss of ($0.46) EPS, missing expectations, but revenues exceeded estimates at $16.41 million.

Wall Street Zen upgraded shares of Fortress Biotech (NASDAQ:FBIO - Free Report) from a hold rating to a buy rating in a report published on Saturday morning.

Separately, HC Wainwright reduced their price target on Fortress Biotech from $26.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Fortress Biotech presently has a consensus rating of "Buy" and a consensus price target of $16.50.

Fortress Biotech Price Performance

Shares of FBIO traded up $0.38 during trading hours on Friday, reaching $4.05. 1,146,210 shares of the company traded hands, compared to its average volume of 397,951. 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 $120.34 million, a PE ratio of -3.85 and a beta of 1.61. Fortress Biotech has a fifty-two week low of $1.33 and a fifty-two week high of $4.12. The stock has a fifty day simple moving average of $2.45 and a 200 day simple moving average of $1.98.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.15). The company had revenue of $16.41 million for the quarter, compared to analyst estimates of $14.53 million. Fortress Biotech had a negative net margin of 24.84% and a negative return on equity of 301.81%. As a group, research analysts predict that Fortress Biotech will post -3.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company's stock worth $60,000 after purchasing an additional 5,034 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Fortress Biotech in the 2nd quarter worth about $93,000. XTX Topco Ltd acquired a new position in Fortress Biotech in the 2nd quarter worth about $42,000. 180 Wealth Advisors LLC increased its position in Fortress Biotech by 6.4% in the 2nd quarter. 180 Wealth Advisors LLC now owns 93,050 shares of the biopharmaceutical company's stock worth $173,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Shikiar Asset Management Inc. increased its position 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 during the last quarter. 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.