Fortress Biotech (NASDAQ:FBIO) Downgraded by StockNews.com

StockNews.com cut shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other research firms also recently issued reports on FBIO. Cantor Fitzgerald reaffirmed an overweight rating on shares of Fortress Biotech in a research note on Thursday, June 20th. HC Wainwright reaffirmed a buy rating and set a $24.00 price target on shares of Fortress Biotech in a research note on Friday, July 19th. Finally, Roth Mkm reissued a buy rating and issued a $10.00 price objective on shares of Fortress Biotech in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $28.50.

Fortress Biotech Stock Down 13.5 %

Shares of NASDAQ FBIO opened at $2.25 on Wednesday. Fortress Biotech has a 52-week low of $1.24 and a 52-week high of $9.00. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42. The firm’s fifty day moving average is $1.91 and its two-hundred day moving average is $1.90.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data 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 analysts’ expectations of $14.33 million. On average, analysts forecast that Fortress Biotech will post -5.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was bought at an average cost of $7.48 per share, for a total transaction of $37,400.00. Following the completion of the transaction, the chief executive officer now directly owns 127,500 shares in the company, valued at $953,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of Fortress Biotech stock in a transaction that occurred on Thursday, July 11th. The shares were bought at an average cost of $7.48 per share, with a total value of $37,400.00. Following the transaction, the chief executive officer now directly owns 127,500 shares of the company’s stock, valued at approximately $953,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $1.64 per share, with a total value of $32,800.00. Following the purchase, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at $4,746,004.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 40,500 shares of company stock valued at $128,300. 33.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortress Biotech

Large investors have recently bought and sold shares of the business. Gladstone Institutional Advisory LLC bought a new stake in shares of Fortress Biotech during the fourth quarter worth $36,000. Virtu Financial LLC bought a new stake in Fortress Biotech during the 1st quarter valued at about $31,000. PFG Investments LLC purchased a new stake in Fortress Biotech in the 1st quarter valued at about $33,000. Choreo LLC bought a new position in Fortress Biotech in the 4th quarter worth about $109,000. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Fortress Biotech during the second quarter worth approximately $107,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

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.