Fortress Biotech (NASDAQ:FBIO) Earns “Buy” Rating from B. Riley

B. Riley reiterated their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a report released on Monday morning, The Fly reports. The brokerage currently has a $9.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $8.00.

Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Fortress Biotech from a hold rating to a buy rating and set a $4.75 price target for the company in a research report on Tuesday, March 23rd. HC Wainwright reiterated a buy rating and issued a $10.00 price target on shares of Fortress Biotech in a research report on Friday, February 26th. Cantor Fitzgerald reissued an overweight rating on shares of Fortress Biotech in a research note on Thursday, April 1st. Finally, Dawson James boosted their price objective on shares of Fortress Biotech from $16.00 to $21.00 and gave the company a buy rating in a research note on Wednesday, February 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $9.75.

FBIO stock opened at $4.24 on Monday. The company has a fifty day moving average price of $4.02 and a 200 day moving average price of $3.39. Fortress Biotech has a 12 month low of $1.84 and a 12 month high of $5.08. The company has a market cap of $397.30 million, a price-to-earnings ratio of -4.99 and a beta of 2.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.38 and a quick ratio of 6.35.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Tuesday, March 30th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. Fortress Biotech had a negative net margin of 131.98% and a negative return on equity of 44.08%. As a group, analysts anticipate that Fortress Biotech will post -0.76 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Nantahala Capital Management LLC grew its stake in shares of Fortress Biotech by 85.9% during the 3rd quarter. Nantahala Capital Management LLC now owns 8,224,938 shares of the biopharmaceutical company’s stock worth $33,229,000 after purchasing an additional 3,800,000 shares during the period. BlackRock Inc. grew its stake in shares of Fortress Biotech by 3.5% during the 4th quarter. BlackRock Inc. now owns 4,719,280 shares of the biopharmaceutical company’s stock worth $14,960,000 after purchasing an additional 160,153 shares during the period. Opaleye Management Inc. grew its stake in shares of Fortress Biotech by 1.5% during the 4th quarter. Opaleye Management Inc. now owns 3,887,500 shares of the biopharmaceutical company’s stock worth $12,323,000 after purchasing an additional 57,500 shares during the period. State Street Corp grew its stake in shares of Fortress Biotech by 29.9% during the 3rd quarter. State Street Corp now owns 1,163,578 shares of the biopharmaceutical company’s stock worth $4,701,000 after purchasing an additional 268,107 shares during the period. Finally, Morgan Stanley grew its stake in shares of Fortress Biotech by 3,331.6% during the 3rd quarter. Morgan Stanley now owns 928,153 shares of the biopharmaceutical company’s stock worth $3,750,000 after purchasing an additional 901,106 shares during the period. 32.13% of the stock is currently owned by institutional investors and hedge funds.

Fortress Biotech Company Profile

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ximino to treat inflammatory lesions of severe acne vulgaris.

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Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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Fortress Biotech (NASDAQ:FBIO) Earns Buy Rating from B. Riley

B. Riley reissued their buy rating on shares of Fortress Biotech (NASDAQ:FBIO) in a report published on Monday, The Fly reports. The firm currently has a $9.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $8.00.

FBIO has been the topic of several other reports. HC Wainwright reissued a buy rating and issued a $10.00 price objective on shares of Fortress Biotech in a research note on Friday, February 26th. Zacks Investment Research raised shares of Fortress Biotech from a hold rating to a buy rating and set a $4.75 price objective on the stock in a research note on Tuesday, March 23rd. Dawson James boosted their price objective on shares of Fortress Biotech from $16.00 to $21.00 and gave the company a buy rating in a research note on Wednesday, February 17th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Fortress Biotech in a research note on Thursday, April 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $9.75.

FBIO stock opened at $4.24 on Monday. The company has a fifty day moving average price of $4.02 and a 200 day moving average price of $3.39. Fortress Biotech has a 12 month low of $1.84 and a 12 month high of $5.08. The company has a market cap of $397.30 million, a price-to-earnings ratio of -4.99 and a beta of 2.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.38 and a quick ratio of 6.35.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings results on Tuesday, March 30th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. Fortress Biotech had a negative net margin of 131.98% and a negative return on equity of 44.08%. As a group, analysts anticipate that Fortress Biotech will post -0.76 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Nantahala Capital Management LLC grew its stake in shares of Fortress Biotech by 85.9% during the 3rd quarter. Nantahala Capital Management LLC now owns 8,224,938 shares of the biopharmaceutical company’s stock worth $33,229,000 after purchasing an additional 3,800,000 shares during the period. BlackRock Inc. boosted its position in shares of Fortress Biotech by 3.5% in the 4th quarter. BlackRock Inc. now owns 4,719,280 shares of the biopharmaceutical company’s stock worth $14,960,000 after buying an additional 160,153 shares in the last quarter. Opaleye Management Inc. boosted its position in shares of Fortress Biotech by 1.5% in the 4th quarter. Opaleye Management Inc. now owns 3,887,500 shares of the biopharmaceutical company’s stock worth $12,323,000 after buying an additional 57,500 shares in the last quarter. State Street Corp boosted its position in shares of Fortress Biotech by 29.9% in the 3rd quarter. State Street Corp now owns 1,163,578 shares of the biopharmaceutical company’s stock worth $4,701,000 after buying an additional 268,107 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Fortress Biotech by 3,331.6% in the 3rd quarter. Morgan Stanley now owns 928,153 shares of the biopharmaceutical company’s stock worth $3,750,000 after buying an additional 901,106 shares in the last quarter. 32.13% of the stock is currently owned by institutional investors and hedge funds.

Fortress Biotech Company Profile

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ximino to treat inflammatory lesions of severe acne vulgaris.

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Analyst Recommendations for Fortress Biotech (NASDAQ:FBIO)

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