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

StockNews.com cut shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other research analysts have also recently commented on the company. HC Wainwright reiterated a buy rating and issued a $24.00 price objective on shares of Fortress Biotech in a report on Friday, July 19th. Cantor Fitzgerald reiterated an overweight rating on shares of Fortress Biotech in a report on Thursday, June 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortress Biotech has a consensus rating of Moderate Buy and a consensus price target of $28.50.

Fortress Biotech Trading Down 13.5 %

Shares of FBIO stock opened at $2.25 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. Fortress Biotech has a twelve month low of $1.24 and a twelve month high of $9.00. The company’s 50-day moving average price is $1.91 and its 200-day moving average price is $1.90.

Fortress Biotech (NASDAQ:FBIO) last issued its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.00. The firm had revenue of $13.03 million for the quarter, compared to analysts’ expectations of $14.33 million. As a group, equities analysts expect that Fortress Biotech will post -5.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Lindsay A. Md Rosenwald acquired 5,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was acquired at an average cost of $7.48 per share, with a total value of $37,400.00. Following the completion of the purchase, the chief executive officer now owns 127,500 shares of the company’s stock, valued at approximately $953,700. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 5,000 shares of Fortress Biotech stock in a transaction dated Thursday, July 11th. The shares were acquired at an average price of $7.48 per share, with a total value of $37,400.00. Following the completion of the transaction, the chief executive officer now owns 127,500 shares of the company’s stock, valued at $953,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lindsay A. Md Rosenwald acquired 20,000 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $1.64 per share, with a total value of $32,800.00. Following the purchase, the chief executive officer now owns 2,893,905 shares of the company’s stock, valued at approximately $4,746,004.20. The disclosure for this purchase can be found here. Insiders have bought 40,500 shares of company stock worth $128,300 over the last ninety days. Corporate insiders own 33.40% of the company’s stock.

Institutional Trading of Fortress Biotech

Large investors have recently modified their holdings of the stock. Armistice Capital LLC purchased a new position in Fortress Biotech in the fourth quarter valued at $1,794,000. Acadian Asset Management LLC boosted its stake in shares of Fortress Biotech by 124.3% in the 1st quarter. Acadian Asset Management LLC now owns 292,058 shares of the biopharmaceutical company’s stock valued at $582,000 after buying an additional 161,870 shares during the period. PVG Asset Management Corp purchased a new stake in shares of Fortress Biotech during the fourth quarter worth approximately $396,000. 180 Wealth Advisors LLC acquired a new stake in Fortress Biotech in the second quarter valued at approximately $107,000. Finally, Shikiar Asset Management Inc. lifted its stake in Fortress Biotech by 21.8% in the first quarter. Shikiar Asset Management Inc. now owns 223,136 shares of the biopharmaceutical company’s stock worth $446,000 after acquiring an additional 40,000 shares during the last quarter. 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.