Wall Street Zen Downgrades Fortress Biotech (NASDAQ:FBIO) to Hold

Key Points

• Wall Street Zen has downgraded Fortress Biotech from a "buy" to a "hold" rating, indicating a more cautious outlook on the company's prospects.
• HC Wainwright has adjusted its price target for Fortress Biotech shares from $26.00 to $17.00, while maintaining a "buy" rating.
• Fortress Biotech reported a loss of ($0.46) earnings per share for the last quarter, missing expectations, but achieved revenue of $16.41 million, surpassing analyst predictions.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

Separately, HC Wainwright cut their price objective on shares of Fortress Biotech from $26.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Fortress Biotech currently has an average rating of "Buy" and a consensus price target of $16.50.

Fortress Biotech Stock Up 4.3%

NASDAQ FBIO opened at $3.91 on Friday. The business's 50-day moving average is $2.64 and its 200 day moving average is $2.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.92 and a quick ratio of 1.70. The stock has a market capitalization of $116.32 million, a PE ratio of -3.72 and a beta of 1.61. Fortress Biotech has a 1 year low of $1.33 and a 1 year high of $4.12.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) last released its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $14.53 million. Sell-side analysts forecast that Fortress Biotech will post -3.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FBIO. Wolverine Trading LLC acquired a new stake in Fortress Biotech during the fourth quarter valued at $26,000. XTX Topco Ltd acquired a new position in Fortress Biotech in the 2nd quarter valued at about $42,000. Osaic Holdings Inc. boosted its holdings in Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 5,034 shares during the last quarter. Jane Street Group LLC acquired a new position in Fortress Biotech in the 4th quarter valued at about $69,000. Finally, PFG Investments LLC boosted its holdings in Fortress Biotech by 28.4% in the 1st quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company's stock valued at $71,000 after purchasing an additional 10,000 shares during 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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