Fortress Biotech (NASDAQ:FBIO) Stock Rating Lowered by StockNews.com

Fortress Biotech (NASDAQ:FBIO) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Fortress Biotech in a research report on Thursday, June 20th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Fortress Biotech in a research note on Thursday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 target price on shares of Fortress Biotech in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Fortress Biotech currently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Fortress Biotech Price Performance

FBIO stock opened at $2.60 on Wednesday. Fortress Biotech has a 1 year low of $1.24 and a 1 year high of $9.00. 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 stock’s 50 day moving average price is $1.90 and its 200 day moving average price is $1.90. The firm has a market cap of $53.07 million, a P/E ratio of -0.43 and a beta of 1.74.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $1.00. The company had revenue of $13.03 million during the quarter, compared to analyst estimates of $14.33 million. On average, sell-side analysts expect that Fortress Biotech will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the stock in a transaction 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 owns 117,500 shares of the company’s stock, valued at $863,625. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was bought at an average price of $7.35 per share, with a total value of $36,750.00. Following the transaction, the chief executive officer now directly owns 117,500 shares in the company, valued at approximately $863,625. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lindsay A. Md Rosenwald bought 20,000 shares of Fortress Biotech stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $1.64 per share, with a total value of $32,800.00. Following the acquisition, the chief executive officer now directly owns 2,893,905 shares in the company, valued at approximately $4,746,004.20. The disclosure for this purchase can be found here. Insiders have purchased a total of 40,500 shares of company stock worth $128,300 over the last ninety days. Company insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On Fortress Biotech

Institutional investors have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC bought a new position in Fortress Biotech during the fourth quarter worth $36,000. Virtu Financial LLC bought a new position in Fortress Biotech during the first quarter worth about $31,000. PFG Investments LLC bought a new position in Fortress Biotech during the first quarter worth about $33,000. Choreo LLC bought a new position in shares of Fortress Biotech in the fourth quarter valued at approximately $109,000. Finally, Shikiar Asset Management Inc. boosted its position in shares of Fortress Biotech by 21.8% in the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock valued at $446,000 after acquiring an additional 40,000 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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.