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

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

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $24.00 target price on shares of Fortress Biotech in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortress Biotech has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Fortress Biotech Price Performance

NASDAQ:FBIO traded down $0.14 during mid-day trading on Friday, reaching $1.43. 817,829 shares of the company’s stock traded hands, compared to its average volume of 388,422. The company has a 50 day moving average price of $1.71 and a 200-day moving average price of $1.83. The firm has a market capitalization of $32.62 million, a price-to-earnings ratio of -0.44 and a beta of 1.75. Fortress Biotech has a 12-month low of $1.30 and a 12-month high of $4.43.

Fortress Biotech (NASDAQ:FBIO) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.59. The business had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $14.97 million. As a group, 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 acquired 763,359 shares of Fortress Biotech stock in a transaction on Monday, September 23rd. The stock was acquired at an average cost of $1.84 per share, for a total transaction of $1,404,580.56. Following the purchase, the chief executive officer now owns 3,657,264 shares in the company, valued at $6,729,365.76. This trade represents a 26.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortress Biotech

Several institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Fortress Biotech in the 1st quarter worth about $31,000. Integrated Wealth Concepts LLC raised its holdings in shares of Fortress Biotech by 68.2% during the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 18,700 shares during the last quarter. Atria Investments Inc lifted its position in Fortress Biotech by 58.4% during the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 26,351 shares during the period. 180 Wealth Advisors LLC bought a new stake in shares of Fortress Biotech in the second quarter worth $107,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Fortress Biotech during the 2nd quarter valued at about $207,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Fortress Biotech Company Profile

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.