Fortress Biotech Inc. (NASDAQ: FBIO): Hunting Genuine Value In Market Debris

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Opaleye Management, Inc. recently announced the acquisition of new stake in Fortress Biotech Inc. (NASDAQ:FBIO). The institutional investor has increased its shareholding in the Healthcare company by 0.13% to 3.83 million shares with purchase of 4900.0 shares. This fresh investment now brings its stake to 4.64% valued currently at $11.11 million. In addition, Nantahala Capital Management LLC raised its holdings by 1.42 million to 1.83 million shares. And The Vanguard Group, Inc. has lifted its position by 8.14% or 0.13 million shares – to 1.79 million shares.

With over 0.41 million Fortress Biotech Inc. (FBIO) shares trading Wednesday and a closing price of $2.84 on the day, the dollar volume was approximately $1.18 million. The shares have shown a positive weekly performance of 5.97% and its price on 07/08/20 gained nearly 1.43%. Currently, there are 63.50M common shares owned by the public and among those 60.05M shares have been available to trade.

Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 2,501,020 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Fortress Biotech Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.23 million shares of the company’s stock, all valued at over $3.58 million. The company has a total holdings of about 1.50% of the shares outstanding. Vanguard Extended Market Index Fu bought 30274.0 shares to see its total holdings expand to 0.55 million shares valued at over $1.61 million and representing 0.67% of the shares outstanding. Fidelity Extended Market Index Fu bought 26843.0 shares to bring its total holdings to over 0.21 million shares at a value of $0.62 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.26% of the shares outstanding.

Shares of Fortress Biotech Inc. (NASDAQ: FBIO) opened at $2.80, down $0.0 from a prior closing price of $2.80. However, the script later closed the day at $2.84, up 1.43%. The company’s stock has a 5-day price change of 5.97% and 55.19% over the past three months. FBIO shares are trading 10.51% year to date (YTD), with the 12-month market performance up to 71.08% higher. It has a 12-month low price of $1.04 and touched a high of $3.20 over the same period. Currently, 0.41 million shares have been traded, compared to an average intraday trading volume of 810.82K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.22%, 7.37%, and 34.02% respectively.

Institutional ownership of Fortress Biotech Inc. (NASDAQ: FBIO) shares accounts for 16.60% of the company’s 63.50M shares outstanding. Mutual fund holders own 28.45%, while other institutional holders and individual stakeholders account for 3.20% and 12.61% respectively.

It has a market capitalization of $236.80M and a beta (3y monthly) value of 2.18. The stock’s earnings-per-share (ttm) stands at -$0.92. The company has a Quick Ratio of 3.10 with the debt-to-equity ratio at 2.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.34% over the week and 8.08% over the month.

Analysts forecast that Fortress Biotech Inc. (FBIO) will achieve an EPS of -$0.27 for the current quarter, -$0.27 for the next quarter and -$0.6 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.43 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.24 a year ago. Earnings per share for the fiscal year are expected to increase by 56.50%, and 40.60% over the next financial year. EPS should grow at an annualized rate of 43.40% over the next five years, compared to -5.40% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by several brokerage firm advisors rate Fortress Biotech Inc. (FBIO) as a “Moderate Buy” at a consensus score of 2.00.

Looking at the support for the FBIO, a number of firms have released research notes about the stock. B. Riley FBR stated their Buy rating for the stock in a research note on December 18, 2019, with the firm’s price target at $9. B. Riley FBR Inc. coverage for the Fortress Biotech Inc. (FBIO) stock in a research note released on February 28, 2018 offered a Buy rating with a price target of $10. Rodman & Renshaw was of a view on July 11, 2017 that the stock is Buy, while JMP Securities gave the stock Mkt Outperform rating on March 22, 2017. ROTH Capital on their part issued Buy rating on October 03, 2016.

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