Fortress Biotech (NASDAQ:FBIO) Rating Lowered to Sell at 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 Thursday.

A number of other brokerages have also recently weighed in on FBIO. HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Fortress Biotech in a research report on Friday, July 19th. Roth Mkm reissued a “buy” rating and set a $10.00 price target on shares of Fortress Biotech in a report on Thursday, May 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Fortress Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Fortress Biotech Stock Performance

Shares of NASDAQ:FBIO remained flat at $2.09 during midday trading on Thursday. 180,495 shares of the stock were exchanged, compared to its average volume of 311,043. 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 business has a 50 day moving average price of $1.92 and a 200 day moving average price of $1.90. Fortress Biotech has a one year low of $1.24 and a one year high of $9.00. The stock has a market cap of $42.66 million, a price-to-earnings ratio of -0.34 and a beta of 1.74.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly 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 during the quarter, compared to analyst estimates of $14.33 million. On average, research analysts anticipate that Fortress Biotech will post -5.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $1.64 per share, with a total value of $32,800.00. Following the completion of the purchase, the chief executive officer now directly owns 2,893,905 shares of the company’s stock, valued at $4,746,004.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 price of $1.64 per share, with a total value of $32,800.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $7.35 per share, for a total transaction of $36,750.00. Following the acquisition, the chief executive officer now owns 117,500 shares of the company’s stock, valued at $863,625. The disclosure for this purchase can be found here. Insiders have purchased a total of 40,500 shares of company stock worth $128,300 in the last 90 days. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On Fortress Biotech

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Fortress Biotech in the first quarter worth about $31,000. PFG Investments LLC bought a new stake in Fortress Biotech during the 1st quarter worth approximately $33,000. Gladstone Institutional Advisory LLC bought a new stake in Fortress Biotech during the 4th quarter worth approximately $36,000. 180 Wealth Advisors LLC acquired a new stake in Fortress Biotech during the 2nd quarter worth approximately $107,000. Finally, Choreo LLC bought a new position in Fortress Biotech in the fourth quarter valued at approximately $109,000. 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.