StockNews.com Lowers Fortress Biotech (NASDAQ:FBIO) to Sell

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

FBIO has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, June 20th. Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Fortress Biotech in a research report on Thursday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 price objective 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Fortress Biotech Price Performance

NASDAQ:FBIO opened at $2.60 on Wednesday. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.33 and a quick ratio of 1.21. The firm has a market cap of $53.07 million, a price-to-earnings ratio of -0.43 and a beta of 1.74. The company has a 50 day moving average price of $1.90 and a 200-day moving average price of $1.90. Fortress Biotech has a 1-year low of $1.24 and a 1-year high of $9.00.

Fortress Biotech (NASDAQ:FBIO) last announced its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.00. The business had revenue of $13.03 million for the quarter, compared to analyst estimates of $14.33 million. Equities research analysts forecast that Fortress Biotech will post -5.07 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of Fortress Biotech stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $1.64 per share, for a total transaction of $32,800.00. Following the transaction, the chief executive officer now directly owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were bought at an average price of $7.35 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the purchase, 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 acquired 40,500 shares of company stock worth $128,300 in the last three months. 33.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Fortress Biotech during the 1st quarter worth about $31,000. PFG Investments LLC bought a new stake in shares of Fortress Biotech during the 1st quarter worth about $33,000. Gladstone Institutional Advisory LLC bought a new stake in shares of Fortress Biotech during the 4th quarter worth about $36,000. 180 Wealth Advisors LLC bought a new stake in shares of Fortress Biotech during the 2nd quarter worth about $107,000. Finally, Choreo LLC acquired a new position in shares of Fortress Biotech during the 4th quarter worth about $109,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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.