In yesterday’s Wall Street session, Fortress Biotech Inc. (NASDAQ:FBIO) shares traded at $0.64, up 4.42% from the previous session.
4 analysts cover Fortress Biotech Inc. (NASDAQ:FBIO), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $2.25, we find $4.10. Given the previous closing price of $0.62, this indicates a potential upside of 561.29 percent. FBIO stock price is now 11.46% away from the 50-day moving average and -10.02% away from the 200-day moving average. The market capitalization of the company currently stands at $72.85M.
The stock has received a hold rating from 0 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $8.61 as their price target over the next twelve months.
With the price target of $6, Ladenburg Thalmann recently initiated with Buy rating for Fortress Biotech Inc. (NASDAQ: FBIO).
In other news, ROSENWALD LINDSAY A MD, President, CEO & Chairman bought 2,395,209 shares of the company’s stock on Feb 10. The stock was bought for $2,000,000 at an average price of $0.83. Upon completion of the transaction, the President, CEO & Chairman now directly owns 15,349,091 shares in the company, valued at $9.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 10, WEISS MICHAEL S bought 1,197,604 shares of the business’s stock. A total of $999,999 was incurred on buying the stock at an average price of $0.83. This leaves the insider owning 14,752,034 shares of the company worth $9.44 million. A total of 22.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FBIO stock. A new stake in Fortress Biotech Inc. shares was purchased by TELEMETRY INVESTMENTS, L.L.C. during the first quarter worth $46,000. ARETE WEALTH ADVISORS, LLC invested $34,000 in shares of FBIO during the first quarter. In the first quarter, TWO SIGMA SECURITIES, LLC acquired a new stake in Fortress Biotech Inc. valued at approximately $23,000. LPL FINANCIAL LLC acquired a new stake in FBIO for approximately $13,000. VIRTU FINANCIAL LLC purchased a new stake in FBIO valued at around $9,000 in the second quarter. In total, there are 73 active investors with 30.10% ownership of the company’s stock.
On Monday morning Fortress Biotech Inc. (NASDAQ: FBIO) stock kicked off with the opening price of $0.6400. During the past 12 months, Fortress Biotech Inc. has had a low of $0.48 and a high of $1.33. As of last week, the company has a debt-to-equity ratio of 2.54, a current ratio of 1.60, and a quick ratio of 1.50. The fifty day moving average price for FBIO is $0.5778 and a two-hundred day moving average price translates $0.7161 for the stock.
The latest earnings results from Fortress Biotech Inc. (NASDAQ: FBIO) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.21, missing analysts’ expectations of -$0.2 by -0.01. This compares to -$0.57 EPS in the same period last year. The company reported revenue of $12.43 million for the quarter, compared to $23.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -48.05 percent. For the current quarter, analysts expect FBIO to generate $17.46M in revenue.
Fortress Biotech Inc.(FBIO) Company Profile
Fortress Biotech, Inc., a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne. It also develops late stage product candidates, such as intravenous Tramadol for the treatment of post-operative acute pain; CUTX-101, an injection for the treatment of Menkes disease; MB-107 and MB-207 for the treatment of X-linked severe combined immunodeficiency; Cosibelimab for metastatic cancers; CK-101 for the treatment of patients with EGFR mutation-positive NSCLC; CAEL-101 for the treatment of amyloid light chain amyloidosis; Triplex vaccine for cytomegalovirus; and CEVA101 for the treatment of severe traumatic brain injury in adults and children. The company’s early stage product candidates include MB-102 for blastic plasmacytoid dendritic cell neoplasm; MB-101 for glioblastoma; MB-104 for multiple myeloma and light chain amyloidosis; MB-106 for B-cell non-hodgkin lymphoma; MB-103 for GBM & metastatic breast cancer to brain; MB-108; MB-105 for prostate and pancreatic cancers; and BAER-101. Its preclinical product candidates comprise AAV-ATP7A gene therapy; AVTS-001 gene therapy; CK-103 BET inhibitor; CEVA-D and CEVA-102; CK-302, an anti-GITR; CK-303, an anti-CAIX; and ONCOlogues, and oligonucleotide platform. It has collaboration arrangements with universities, research institutes, and pharmaceutical companies. The company was formerly known as Coronado Biosciences, Inc. and changed its name to Fortress Biotech, Inc. in April 2015. Fortress Biotech, Inc. was incorporated in 2006 and is based in Bay Harbor Islands, Florida.
