Fortress Biotech (NASDAQ:FBIO) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research note released on Monday.

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Fortress Biotech in a research report on Thursday, June 20th. Alliance Global Partners started coverage on Fortress Biotech in a research report on Tuesday, March 19th. They set a buy rating and a $5.00 target price for the company. Finally, Roth Mkm reaffirmed a buy rating and set a $10.00 target price on shares of Fortress Biotech in a research report on Thursday, May 16th.

Fortress Biotech Price Performance

Shares of FBIO stock opened at $1.97 on Monday. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $10.35. The company has a debt-to-equity ratio of 38.42, a quick ratio of 1.21 and a current ratio of 1.33. The firm has a market capitalization of $40.21 million, a P/E ratio of -0.32 and a beta of 1.74. The stock has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.95.

Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.03) by $1.00. The firm had revenue of $13.03 million for the quarter, compared to the consensus estimate of $14.33 million. As a group, sell-side analysts predict that Fortress Biotech will post -5.07 earnings per share for the current year.

Insider Activity

In related news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the acquisition, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were purchased at an average cost of $7.35 per share, for a total transaction of $36,750.00. Following the purchase, the chief executive officer now directly owns 117,500 shares in the company, valued at $863,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lindsay A. Md Rosenwald bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the completion of the purchase, the chief executive officer now owns 2,893,905 shares in the company, valued at $4,746,004.20. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 35,000 shares of company stock worth $87,150. 33.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIO. Virtu Financial LLC purchased a new position in Fortress Biotech during the 1st quarter worth $31,000. PFG Investments LLC purchased a new stake in Fortress Biotech during the 1st quarter valued at about $33,000. Gladstone Institutional Advisory LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at about $36,000. Wealth Management Partners LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at about $60,000. Finally, Choreo LLC purchased a new stake in Fortress Biotech during the 4th quarter valued at about $109,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

About Fortress Biotech

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.