Fortress Biotech (NASDAQ:FBIO) reduced to “sell” on

Fortress Biotech (NASDAQ:FBIO – Get Rating) was downgraded by from a “hold” rating to a “sell” rating in a research note published Wednesday.

Several other equity analysts have also recently weighed in on FBIO. B. Riley lowered his price target on Fortress Biotech from $8.00 to $6.00 and set a “buy” rating on the stock in a Thursday, July 14 research report. LADENBURG THALM/SH SH began coverage of Fortress Biotech in a research note on Thursday August 4th. They set a “buy” rating and a price target of $6.00 for the company. Finally, Cantor Fitzgerald reiterated a “buy” rating and posted a $6.00 price target on Fortress Biotech shares in a research report on Friday, May 13. One equity research analyst gave the stock a sell rating and six gave the company’s stock a buy rating. According to data from MarketBeat, Fortress Biotech currently has an average rating of “Moderate Buy” and an average target price of $9.60.

Fortress Biotech shares fall 1.0%

FBIO shares opened at $1.04 on Wednesday. The company has a 50-day simple moving average of $0.97 and a two-hundred-day simple moving average of $1.15. The stock has a market capitalization of $112.04 million, a P/E ratio of -0.98 and a beta of 2.10. Fortress Biotech has a 12-month low of $0.77 and a 12-month high of $3.81. The company has a current ratio of 2.85, a quick ratio of 2.70 and a debt ratio of 0.61.

Hedge funds weigh on Fortress Biotech

Several institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stock position in Fortress Biotech during the fourth quarter, valued at approximately $325,000. Northern Trust Corp increased its position in Fortress Biotech shares by 2.2% during the fourth quarter. Northern Trust Corp now owns 683,283 shares of the biopharmaceutical company valued at $1,708,000 after acquiring an additional 14,470 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Fortress Biotech in the fourth quarter worth $41,000. Lazard Asset Management LLC bought a new stake in Fortress Biotech in the fourth quarter worth $56,000. Finally, Acadian Asset Management LLC acquired a new stake in Fortress Biotech during the fourth quarter at a value of $394,000. 30.92% of the shares are held by hedge funds and other institutional investors.

Fortress Biotech Company Profile

(Get a rating)

Fortress Biotech, Inc., a biopharmaceutical company, develops and markets pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of moderate to severe non-nodular acne vulgaris; Targadox for severe acne; Exelderm cream for symptoms of ringworm and jock itch; Ceracade for dry skin; Luxamend for dressing and treating wounds; and Accutane capsules for severe recalcitrant nodular acne.

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Analyst Recommendations for Fortress Biotech (NASDAQ: FBIO)

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