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

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

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

Fortress Biotech Trading Down 8.9 %

Shares of Fortress Biotech stock opened at $1.43 on Friday. Fortress Biotech has a twelve month low of $1.30 and a twelve month high of $4.43. The stock has a market capitalization of $32.62 million, a P/E ratio of -0.47 and a beta of 1.75. The business’s fifty day moving average price is $1.71 and its 200 day moving average price is $1.83.

Insider Transactions at Fortress Biotech

In related news, CEO Lindsay A. Md Rosenwald purchased 763,359 shares of Fortress Biotech stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $1.84 per share, with a total value of $1,404,580.56. Following the completion of the transaction, the chief executive officer now directly owns 3,657,264 shares of the company’s stock, valued at approximately $6,729,365.76. This represents a 26.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 33.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortress Biotech

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Fortress Biotech in the 1st quarter worth approximately $31,000. Integrated Wealth Concepts LLC raised its holdings in Fortress Biotech by 68.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 18,700 shares during the last quarter. Atria Investments Inc boosted its stake in Fortress Biotech by 58.4% in the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 26,351 shares during the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of Fortress Biotech during the second quarter worth $107,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Fortress Biotech in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

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.