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

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

Separately, HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Fortress Biotech in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Fortress Biotech Price Performance

Shares of Fortress Biotech stock traded down $0.14 during trading hours on Friday, reaching $1.43. The company had a trading volume of 817,829 shares, compared to its average volume of 388,422. The firm has a market cap of $32.62 million, a PE ratio of -0.44 and a beta of 1.75. Fortress Biotech has a one year low of $1.30 and a one year high of $4.43. The business has a fifty day simple moving average of $1.71 and a 200 day simple moving average of $1.83.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.59. The firm had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $14.97 million. On average, research analysts forecast that Fortress Biotech will post -2.65 EPS for the current year.

Insider Buying and Selling

In other news, CEO Lindsay A. Md Rosenwald bought 763,359 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $1.84 per share, with a total value of $1,404,580.56. Following the completion of the purchase, the chief executive officer now directly owns 3,657,264 shares in the company, valued at $6,729,365.76. This represents a 26.38 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 33.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fortress Biotech

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Fortress Biotech in the first quarter worth $31,000. Integrated Wealth Concepts LLC boosted its holdings in Fortress Biotech by 68.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 18,700 shares during the period. 180 Wealth Advisors LLC bought a new position in Fortress Biotech during the 2nd quarter worth approximately $107,000. Atria Investments Inc increased its stake in Fortress Biotech by 58.4% in the 3rd quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 26,351 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Fortress Biotech in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

About Fortress Biotech

Fortress Biotech, Inc, a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet.