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

StockNews.com downgraded shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research report released on Friday.

Other analysts have also issued reports about the stock. Alliance Global Partners started coverage on shares of Fortress Biotech in a research note on Tuesday, March 19th. They set a buy rating and a $5.00 price objective for the company. Roth Mkm started coverage on shares of Fortress Biotech in a research note on Friday, March 15th. They set a buy rating and a $10.00 price objective for the company.

Fortress Biotech Stock Up 1.1 %

NASDAQ:FBIO opened at $1.82 on Friday. The firm has a market cap of $35.02 million, a P/E ratio of -0.22 and a beta of 1.52. The company has a debt-to-equity ratio of 38.42, a quick ratio of 1.26 and a current ratio of 1.38. Fortress Biotech has a fifty-two week low of $1.24 and a fifty-two week high of $12.60. The firm has a 50-day simple moving average of $1.93 and a two-hundred day simple moving average of $2.30.

Institutional Trading of Fortress Biotech

Large investors have recently made changes to their positions in the stock. Wealth Management Partners LLC bought a new stake in shares of Fortress Biotech in the fourth quarter worth approximately $60,000. Jefferies Financial Group Inc. bought a new stake in shares of Fortress Biotech in the fourth quarter worth approximately $2,816,000. Wells Fargo & Company MN grew its stake in shares of Fortress Biotech by 49.3% in the fourth quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 15,657 shares during the period. Envestnet Asset Management Inc. grew its position in Fortress Biotech by 102.3% during the third quarter. Envestnet Asset Management Inc. now owns 53,484 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 27,045 shares during the period. Finally, Millennium Management LLC grew its position in Fortress Biotech by 569.9% during the second quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 745,405 shares during the period. 96.51% of the stock is currently owned by institutional investors.

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.