Fortress Biotech Inc. (NASDAQ:FBIO) does about 1.06M shares in volume on a normal day but saw 7426989 shares change hands in Friday trading. The company now has a market cap of 291.29M USD and an enterprise value of about $224.31M. Its current market price is $3.78, marking an increase of 14.20% compared to the previous close of $3.31. The 52 week high reached by this stock is $3.81 whilst the lowest price level in 52 weeks is $1.04. The script in recent trading has seen the stock touch a high of $4.02 and a low of $3.3598.
Fortress Biotech Inc. (FBIO) has a 20-day trading average at $3.23 and the current price is -0.79% off the 52-week high compared with 263.46% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.98 and its 200-day simple moving average is $2.44. If we look at the stock’s price movements over the week, volatility stands at 11.24%, which decreases to 9.58% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 67.66 to suggest the stock is neutral.
FactSet Research has provided data showing that 5 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 5 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 18, 2019 when B. Riley FBR initiated the stock to “Buy” and issued a price target of $9. Rodman & Renshaw initiated its price target at $11.
The current price level is 18.77%, 27.58%, and 55.74% away from its SMA20, SMA50, and SMA200 respectively, with the FBIO price moving below the 50-day SMA on August 28. Fortress Biotech Inc. (FBIO) stock is up 3.56% over the week and 35.97% over the past month. Its price is 47.08% year-to-date and 111.17% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.19 above consensus estimates by $0.08. The company’s next earnings report is expected on 11/06/2020, with forecasts estimating quarterly EPS at -$0.22 and -$1.01 for whole year. FBIO’s earnings per share are forecast to shrink by -38.40% this year and 51.50% over next year. Expected sales for next quarter are $12.7 million, which analysts say will come at $46.81 million for the current fiscal year and next year at $65.61 million. In addition, estimates put the company’s current quarterly revenue at an average of $11.36 million.
Its 12-month price target is $8.00. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $5.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $19.00.
Outstanding shares total 68.55M with insiders holding 28.13% of the shares and institutional holders owning 14.09% of the company’s common stock. The company has a return on investment of -79.70% and return on equity of -144.10%. The beta has a value of 2.13. Price to book ratio is 4.30 and price to sales ratio is 6.73.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Fortress Biotech Inc. (FBIO) to 2,058,733 shares, mirroring a recent increase by 50.81%. Vanguard Total Stock Market Index added 0.69 million shares of Fortress Biotech Inc. common stock bringing its total worth to about $5.71 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by iShares Russell 2000 ETF, which sold off 58072.0 shares to end up with 1,244,607 shares worth $3.45 million. Vanguard Extended Market Index Fu raise their holdings by 2.58% in the company over the course of the most recent quarter. It now holds a 0.69% position in Fortress Biotech Inc. thanks to 0.57 million shares amounting to $1.58 million.