Fortress Biotech (NASDAQ:FBIO) Downgraded by StockNews.com to “Sell”

Fortress Biotech (NASDAQ:FBIO) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

FBIO has been the subject of a number of other research reports. Roth Mkm restated a “buy” rating and set a $10.00 price objective on shares of Fortress Biotech in a research note on Thursday, May 16th. Alliance Global Partners began coverage on Fortress Biotech in a research note on Tuesday, March 19th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fortress Biotech in a report on Thursday, June 20th.

Fortress Biotech Trading Down 2.8 %

Shares of Fortress Biotech stock traded down $0.05 during trading hours on Monday, reaching $1.75. The stock had a trading volume of 155,459 shares, compared to its average volume of 308,632. The firm has a 50 day simple moving average of $1.80 and a two-hundred day simple moving average of $1.96. The firm has a market capitalization of $35.72 million, a price-to-earnings ratio of -0.29 and a beta of 1.74. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 38.42. Fortress Biotech has a 1 year low of $1.24 and a 1 year high of $10.35.

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

Insider Buying and Selling at Fortress Biotech

In other news, CEO Lindsay A. Md Rosenwald purchased 20,000 shares of the stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $1.64 per share, for a total transaction of $32,800.00. Following the transaction, the chief executive officer now owns 2,893,905 shares in the company, valued at $4,746,004.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortress Biotech

Hedge funds have recently modified their holdings of the company. Armistice Capital LLC acquired a new position in shares of Fortress Biotech in the 4th quarter worth $1,794,000. Acadian Asset Management LLC grew its holdings 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 worth $582,000 after acquiring an additional 161,870 shares during the last quarter. Shikiar Asset Management Inc. grew its holdings in shares of Fortress Biotech by 21.8% in the 1st 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. PVG Asset Management Corp acquired a new position in shares of Fortress Biotech in the 4th quarter worth $396,000. Finally, Choreo LLC acquired a new position in shares of Fortress Biotech in the 4th quarter worth $109,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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.