Fortress Biotech (FBIO) Cut to Sell at Zacks Investment Research

Fortress Biotech (NASDAQ:FBIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.

According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “

Several other brokerages also recently commented on FBIO. ValuEngine downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, December 1st. HC Wainwright set a $11.00 target price on Fortress Biotech and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.00.

Shares of Fortress Biotech (NASDAQ:FBIO) traded down $0.19 on Monday, hitting $3.44. The stock had a trading volume of 87,418 shares, compared to its average volume of 140,752. The firm has a market cap of $174.26, a P/E ratio of -1.89 and a beta of 0.54. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.42. Fortress Biotech has a fifty-two week low of $2.58 and a fifty-two week high of $5.13.

In other news, SVP George Avgerinos sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $3.55, for a total value of $42,600.00. Following the transaction, the senior vice president now directly owns 352,495 shares of the company’s stock, valued at approximately $1,251,357.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 33.30% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Strs Ohio lifted its holdings in Fortress Biotech by 301.4% during the 3rd quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock worth $613,000 after buying an additional 104,300 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Fortress Biotech by 365.4% during the 3rd quarter. Wells Fargo & Company MN now owns 119,736 shares of the biopharmaceutical company’s stock worth $529,000 after buying an additional 94,008 shares in the last quarter. Citadel Advisors LLC acquired a new position in Fortress Biotech during the 3rd quarter worth $101,000. Parametric Portfolio Associates LLC lifted its holdings in Fortress Biotech by 3.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock worth $281,000 after buying an additional 1,913 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in Fortress Biotech by 38.4% during the 2nd quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 8,000 shares in the last quarter. 12.06% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Fortress Biotech (FBIO) Cut to Sell at Zacks Investment Research” was posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/12/fortress-biotech-fbio-cut-to-sell-at-zacks-investment-research.html.

About Fortress Biotech

Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.

Get a free copy of the Zacks research report on Fortress Biotech (FBIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply