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 report released on Friday morning.

FBIO has been the subject of several other reports. Alliance Global Partners began coverage on Fortress Biotech in a report on Tuesday, March 19th. They set a buy rating and a $5.00 price target for the company. Roth Mkm began coverage on Fortress Biotech in a report on Friday, March 15th. They set a buy rating and a $10.00 price target for the company.

Fortress Biotech Price Performance

Shares of NASDAQ FBIO opened at $1.82 on Friday. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.38 and a quick ratio of 1.26. The stock has a fifty day moving average price of $1.93 and a 200 day moving average price of $2.30. Fortress Biotech has a 1-year low of $1.24 and a 1-year high of $12.60. The company has a market cap of $35.02 million, a PE ratio of -0.22 and a beta of 1.52.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FBIO. Jefferies Financial Group Inc. purchased a new position in Fortress Biotech in the fourth quarter worth $2,816,000. Renaissance Technologies LLC increased its position in shares of Fortress Biotech by 1,005.2% in the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock valued at $1,498,000 after buying an additional 1,001,653 shares in the last quarter. CI Private Wealth LLC purchased a new position in shares of Fortress Biotech in the fourth quarter valued at $519,000. Millennium Management LLC increased its position in shares of Fortress Biotech by 569.9% in 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 in the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Fortress Biotech in the fourth quarter valued at $1,794,000. 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.