Fortress Biotech, Inc. (FBIO) Sets 52-Week Low; Strong Momentum for Sellers

June 17, 2018 - By Alfred Lee

Fortress Biotech, Inc. (NASDAQ:FBIO) Logo

The stock of Fortress Biotech, Inc. (NASDAQ:FBIO) hit a new 52-week low and has $2.81 target or 5.00 % below today’s $2.96 share price. The 7 months bearish chart indicates high risk for the $156.59M company. The 1-year low was reported on Jun, 17 by Barchart.com. If the $2.81 price target is reached, the company will be worth $7.83M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 5.13% or $0.16 during the last trading session, reaching $2.96. About 206,891 shares traded or 43.34% up from the average. Fortress Biotech, Inc. (NASDAQ:FBIO) has declined 10.16% since June 17, 2017 and is downtrending. It has underperformed by 22.73% the S&P500.

Analysts await Fortress Biotech, Inc. (NASDAQ:FBIO) to report earnings on August, 8. They expect $-0.74 EPS, down 72.09 % or $0.31 from last year’s $-0.43 per share. After $-0.49 actual EPS reported by Fortress Biotech, Inc. for the previous quarter, Wall Street now forecasts 51.02 % negative EPS growth.

Fortress Biotech, Inc. (NASDAQ:FBIO) Ratings Coverage

Among 3 analysts covering Fortress Biotech (NASDAQ:FBIO), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Fortress Biotech had 7 analyst reports since January 2, 2018 according to SRatingsIntel. H.C. Wainwright maintained the stock with “Buy” rating in Monday, May 21 report. The firm earned “Buy” rating on Tuesday, March 27 by H.C. Wainwright. On Friday, March 16 the stock rating was maintained by H.C. Wainwright with “Buy”. H.C. Wainwright maintained Fortress Biotech, Inc. (NASDAQ:FBIO) on Tuesday, January 2 with “Buy” rating. The company was maintained on Monday, May 21 by JMP Securities. The firm earned “Buy” rating on Friday, May 11 by H.C. Wainwright.

More notable recent Fortress Biotech, Inc. (NASDAQ:FBIO) news were published by: Nasdaq.com which released: “Avenue Therapeutics to Host Key Opinion Leader Call on Intravenous (IV) Tramadol for the Management of …” on June 06, 2018, also Benzinga.com with their article: “Benzinga’s Daily Biotech Pulse: Biomarin Gets FDA Nod, Amarin Settles with Teva, Merck’s Cancer Drug Review …” published on May 25, 2018, Nasdaq.com published: “Mustang Bio Announces Preclinical Data on Potency of its CAR T Cells in Glioblastoma Published in JCI Insight” on May 30, 2018. More interesting news about Fortress Biotech, Inc. (NASDAQ:FBIO) were released by: Benzinga.com and their article: “42 Biggest Movers From Friday” published on May 29, 2018 as well as Nasdaq.com‘s news article titled: “National Holdings Announces Strategic Reorganization of Board of Directors and Expansion of Senior Management” with publication date: June 12, 2018.

Fortress Biotech, Inc., a biopharmaceutical company, engages in dermatology product sales, pharmaceutical, and biotechnology businesses in the United States. The company has market cap of $156.59 million. The firm offers CNDO-109, a lysate that activates donor natural killer cells to treat cancer-related and other conditions; tramadol HCl, an intravenous formulation for moderate to moderately severe post-operative pain; CAEL-101 for AL amyloidosis; and CEVA101, which is in Phase II clinical study for severe traumatic brain injury in pediatric patients and adults. It currently has negative earnings. It also provides novel, non-chemotherapy, and immune-enhanced combination treatments for patients with solid tumor cancers; Uracil Topical Cream that is in Phase II to treat and prevent hand-foot syndrome; candidate CUTX-101, a copper histidinate injection for Menkes disease and related copper transport disorders; and novel agents for rare, neglected, or orphan disorders.

Fortress Biotech, Inc. (NASDAQ:FBIO) Ratings Chart

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