Lindsay A. Md Rosenwald Acquires 20,000 Shares of Fortress Biotech, Inc. (NASDAQ:FBIO) Stock

Fortress Biotech, Inc. (NASDAQ:FBIO) CEO Lindsay A. Md Rosenwald purchased 20,000 shares of Fortress Biotech stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $1.64 per share, with a total value of $32,800.00. Following the transaction, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Fortress Biotech Price Performance

Shares of NASDAQ:FBIO opened at $1.67 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 38.42. The firm has a market capitalization of $34.08 million, a PE ratio of -0.27 and a beta of 1.74. Fortress Biotech, Inc. has a twelve month low of $1.24 and a twelve month high of $10.35. The company has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $1.97.

Fortress Biotech (NASDAQ:FBIO) last released its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($2.03) by $1.00. The firm had revenue of $13.03 million during the quarter, compared to the consensus estimate of $14.33 million. Equities analysts forecast that Fortress Biotech, Inc. will post -5.07 EPS for the current year.

Hedge Funds Weigh In On Fortress Biotech

A number of large investors have recently modified their holdings of FBIO. Armistice Capital LLC bought a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $1,794,000. Acadian Asset Management LLC boosted its position in shares of Fortress Biotech by 124.3% in the first quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 161,870 shares during the period. PVG Asset Management Corp bought a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $396,000. Shikiar Asset Management Inc. boosted its position in shares of Fortress Biotech by 21.8% in the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock valued at $446,000 after acquiring an additional 40,000 shares during the period. Finally, Choreo LLC bought a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $109,000. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FBIO shares. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Fortress Biotech in a research report on Thursday, May 16th. Alliance Global Partners initiated coverage on shares of Fortress Biotech in a research report on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a research report on Thursday, June 20th. Finally, StockNews.com upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Saturday.

About Fortress Biotech

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.