PFG Investments LLC Takes Position in Fortress Biotech, Inc. (NASDAQ:FBIO)

PFG Investments LLC purchased a new position in Fortress Biotech, Inc. (NASDAQ:FBIO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,291 shares of the biopharmaceutical company’s stock, valued at approximately $33,000.

Several other large investors have also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC acquired a new stake in Fortress Biotech during the 4th quarter worth $36,000. Wealth Management Partners LLC purchased a new position in shares of Fortress Biotech in the fourth quarter worth about $60,000. Choreo LLC acquired a new position in Fortress Biotech during the fourth quarter worth about $109,000. PVG Asset Management Corp acquired a new position in Fortress Biotech during the fourth quarter worth about $396,000. Finally, Shikiar Asset Management Inc. grew its stake in Fortress Biotech by 21.8% during the 1st 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 in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Alliance Global Partners started coverage on Fortress Biotech in a report on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price on the stock. StockNews.com downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Finally, Roth Mkm assumed coverage on Fortress Biotech in a research note on Friday, March 15th. They set a “buy” rating and a $10.00 price objective on the stock.

Fortress Biotech Trading Down 2.8 %

FBIO stock traded down $0.05 during trading on Friday, reaching $1.75. 177,765 shares of the stock were exchanged, compared to its average volume of 202,195. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 38.42. The firm has a market capitalization of $33.67 million, a price-to-earnings ratio of -0.21 and a beta of 1.56. The business has a 50 day moving average price of $1.91 and a 200-day moving average price of $2.09. Fortress Biotech, Inc. has a 1 year low of $1.24 and a 1 year high of $11.50.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Thursday, March 28th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter. The firm had revenue of $19.95 million for the quarter, compared to analyst estimates of $14.46 million. Fortress Biotech had a negative return on equity of 770.86% and a negative net margin of 74.12%. On average, research analysts predict that Fortress Biotech, Inc. will post -6.57 earnings per share for the current year.

Fortress Biotech 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.