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

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

Several other equities analysts have also recently issued reports on the company. Alliance Global Partners assumed coverage on Fortress Biotech in a research note on Tuesday, March 19th. They set a “buy” rating and a $5.00 price objective on the stock. Roth Mkm assumed coverage on Fortress Biotech in a research note on Friday, March 15th. They set a “buy” rating and a $10.00 price objective on the stock.

Fortress Biotech Stock Performance

Shares of FBIO opened at $1.82 on Friday. The business’s fifty day moving average price is $1.93 and its 200 day moving average price is $2.37. Fortress Biotech has a 12-month low of $1.24 and a 12-month high of $12.75. The stock has a market capitalization of $35.02 million, a PE ratio of -0.22 and a beta of 1.51. The company has a debt-to-equity ratio of 38.42, a current ratio of 1.38 and a quick ratio of 1.26.

Institutional Investors Weigh In On Fortress Biotech

Large investors have recently added to or reduced their stakes in the stock. Wealth Management Partners LLC acquired a new stake in Fortress Biotech in the fourth quarter worth $60,000. HighTower Advisors LLC increased its holdings in shares of Fortress Biotech by 98.8% during the first quarter. HighTower Advisors LLC now owns 84,900 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 42,200 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Fortress Biotech by 102.3% during the third quarter. Envestnet Asset Management Inc. now owns 53,484 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 27,045 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Fortress Biotech during the first quarter valued at $42,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Fortress Biotech by 495.0% during the second quarter. BNP Paribas Arbitrage SA now owns 39,636 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 32,974 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Fortress Biotech Company Profile

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.