Fortress Biotech (NASDAQ:FBIO) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Fortress Biotech (NASDAQ:FBIO) from a hold rating to a sell rating in a research note released on Friday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target on shares of Fortress Biotech in a report on Friday, July 19th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Fortress Biotech Stock Up 3.5 %

FBIO opened at $1.48 on Friday. The firm’s 50-day moving average price is $1.70 and its 200-day moving average price is $1.83. The company has a market cap of $33.76 million, a P/E ratio of -0.49 and a beta of 1.75. Fortress Biotech has a 52-week low of $1.36 and a 52-week high of $4.43.

Insider Buying and Selling

In related news, CEO Lindsay A. Md Rosenwald bought 763,359 shares of the stock in a transaction dated Monday, September 23rd. The shares were purchased at an average price of $1.84 per share, for a total transaction of $1,404,580.56. Following the completion of the purchase, the chief executive officer now directly owns 3,657,264 shares of the company’s stock, valued at $6,729,365.76. This represents a 26.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Fortress Biotech during the 1st quarter worth approximately $31,000. Integrated Wealth Concepts LLC grew its position in Fortress Biotech by 68.2% during the third quarter. Integrated Wealth Concepts LLC now owns 46,100 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 18,700 shares during the period. 180 Wealth Advisors LLC purchased a new position in Fortress Biotech in the second quarter valued at $107,000. Atria Investments Inc raised its position in shares of Fortress Biotech by 58.4% in the third quarter. Atria Investments Inc now owns 71,484 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 26,351 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Fortress Biotech during the 2nd quarter worth about $207,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

About Fortress Biotech

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.