Fortress Biotech (NASDAQ:FBIO) Shares Cross Above 200 Day Moving Average of $1.90

Fortress Biotech, Inc. (NASDAQ:FBIO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.90 and traded as high as $1.90. Fortress Biotech shares last traded at $1.87, with a volume of 157,881 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on FBIO shares. HC Wainwright reissued a “buy” rating and set a $24.00 target price on shares of Fortress Biotech in a research note on Friday, July 19th. StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $10.00 target price on shares of Fortress Biotech in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Fortress Biotech Price Performance

The stock has a market capitalization of $37.35 million, a P/E ratio of -0.30 and a beta of 1.74. The business has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $1.90. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.00. The company had revenue of $13.03 million for the quarter, compared to the consensus estimate of $14.33 million. On average, analysts expect that Fortress Biotech, Inc. will post -5.07 earnings per share for the current year.

Insider Activity at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of Fortress Biotech stock in a transaction on Thursday, July 11th. The stock was acquired at an average cost of $7.48 per share, with a total value of $37,400.00. Following the transaction, the chief executive officer now owns 127,500 shares of the company’s stock, valued at approximately $953,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were acquired at an average cost of $7.48 per share, for a total transaction of $37,400.00. Following the completion of the acquisition, the chief executive officer now owns 127,500 shares of the company’s stock, valued at approximately $953,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of Fortress Biotech stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $1.64 per share, with a total value of $32,800.00. Following the purchase, the chief executive officer now directly owns 2,893,905 shares in the company, valued at $4,746,004.20. The disclosure for this purchase can be found here. Insiders have bought 40,500 shares of company stock valued at $128,300 over the last ninety days. Corporate insiders own 33.40% of the company’s stock.

Institutional Trading of Fortress Biotech

Large investors have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC bought a new position in shares of Fortress Biotech during the 4th quarter valued at approximately $36,000. Virtu Financial LLC purchased a new position in Fortress Biotech in the first quarter valued at approximately $31,000. PFG Investments LLC bought a new position in Fortress Biotech during the first quarter valued at $33,000. Choreo LLC purchased a new stake in Fortress Biotech in the fourth quarter worth $109,000. Finally, 180 Wealth Advisors LLC bought a new stake in shares of Fortress Biotech in the second quarter valued at $107,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Fortress Biotech 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.