Fortress Biotech Inc. [NASDAQ: FBIO] closed the trading session at $3.81 on 06/14/21. The day’s price range saw the stock hit a low of $3.67, while the highest price level was $4.05. The company report on June 14, 2021 that Avenue Therapeutics Receives Complete Response Letter from the FDA for IV Tramadol.
Avenue Therapeutics, Inc. (NASDAQ: ATXI) (“Avenue”), a company focused on the development of intravenous (“IV”) tramadol for the U.S. market, announced that it has received a second Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding its New Drug Application (“NDA”) seeking approval for IV tramadol.
The CRL stated that the delayed and unpredictable onset of analgesia with IV tramadol does not support its benefit as a monotherapy to treat patients in acute pain, and there is insufficient information to support that IV tramadol in combination with other analgesics is safe and effective for the intended patient population. The FDA did not identify any Chemistry, Manufacturing and Controls (“CMC”) issues in this CRL.
The stocks have a year to date performance of 20.19 percent and weekly performance of -7.30 percent. The stock has been moved at 54.25 percent over the last six months. The stock has performed 5.54 percent around the most recent 30 days and changed -10.98 percent over the most recent 3-months.
If compared to the average trading volume of 1.71M shares, FBIO reached to a volume of 3140190 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Fortress Biotech Inc. [FBIO]:
The Benchmark Company have made an estimate for Fortress Biotech Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 02, 2020. While these analysts kept the previous recommendation, B. Riley FBR raised their target price to Buy. The new note on the price target was released on December 18, 2019, representing the official price target for Fortress Biotech Inc. stock. Previously, the target price had yet another raise to $10, while B. Riley FBR Inc. analysts kept a Buy rating on FBIO stock.
The Average True Range (ATR) for Fortress Biotech Inc. is set at 0.26, with the Price to Sales ratio for FBIO stock in the period of the last 12 months amounting to 8.02. The Price to Book ratio for the last quarter was 2.91.
FBIO stock trade performance evaluation
Fortress Biotech Inc. [FBIO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.30. With this latest performance, FBIO shares gained by 5.54% in over the last four-week period, additionally plugging by 54.25% over the last 6 months – not to mention a rise of 37.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FBIO stock in for the last two-week period is set at 44.73, with the RSI for the last a single of trading hit 41.59, and the three-weeks RSI is set at 46.35 for Fortress Biotech Inc. [FBIO]. The present Moving Average for the last 50 days of trading for this stock 4.12, while it was recorded at 4.20 for the last single week of trading, and 3.61 for the last 200 days.
Fortress Biotech Inc. [FBIO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fortress Biotech Inc. [FBIO] shares currently have an operating margin of -206.74 and a Gross Margin at +62.99. Fortress Biotech Inc.’s Net Margin is presently recorded at -102.03.
Return on Total Capital for FBIO is now -40.68, given the latest momentum, and Return on Invested Capital for the company is -30.05. Return on Equity for this stock declined to -73.53, with Return on Assets sitting at -16.76. When it comes to the capital structure of this company, Fortress Biotech Inc. [FBIO] has a Total Debt to Total Equity ratio set at 83.49. Additionally, FBIO Total Debt to Total Capital is recorded at 45.50, with Total Debt to Total Assets ending up at 25.48. Long-Term Debt to Equity for the company is recorded at 81.65, with the Long-Term Debt to Total Capital now at 44.50.
Reflecting on the efficiency of the workforce at the company, Fortress Biotech Inc. [FBIO] managed to generate an average of -$419,153 per employee. Receivables Turnover for the company is 2.64 with a Total Asset Turnover recorded at a value of 0.16.Fortress Biotech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.
Earnings per share (EPS) analysis for Fortress Biotech Inc. [FBIO] stock
With the latest financial reports released by the company, Fortress Biotech Inc. posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 29.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FBIO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortress Biotech Inc. go to 25.50%.
Fortress Biotech Inc. [FBIO]: Insider Ownership positions
There are presently around $119 million, or 33.00% of FBIO stock, in the hands of institutional investors. The top three institutional holders of FBIO stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 8,602,693, which is approximately -0.901% of the company’s market cap and around 26.30% of the total institutional ownership; VANGUARD GROUP INC, holding 5,143,508 shares of the stock with an approximate value of $19.6 million in FBIO stocks shares; and BLACKROCK INC., currently with $18.5 million in FBIO stock with ownership of nearly 2.905% of the company’s market capitalization.
Positions in Fortress Biotech Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 34 institutional holders increased their position in Fortress Biotech Inc. [NASDAQ:FBIO] by around 1,631,429 shares. Additionally, 37 investors decreased positions by around 2,292,232 shares, while 22 investors held positions by with 27,319,818 shares. The mentioned changes placed institutional holdings at 31,243,479 shares, according to the latest SEC report filing. FBIO stock had 7 new institutional investments in for a total of 156,202 shares, while 10 institutional investors sold positions of 485,062 shares during the same period.