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

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

Other research analysts have also issued research reports about the stock. Roth Mkm began coverage on shares of Fortress Biotech in a research note on Friday, March 15th. They set a “buy” rating and a $10.00 price target on the stock. Alliance Global Partners assumed coverage on shares of Fortress Biotech in a report on Tuesday, March 19th. They issued a “buy” rating and a $5.00 price objective on the stock.

Fortress Biotech Price Performance

Shares of FBIO opened at $1.82 on Friday. The company has a debt-to-equity ratio of 38.42, a quick ratio of 1.26 and a current ratio of 1.38. 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 50 day moving average price of $1.93 and a 200-day moving average price of $2.37. Fortress Biotech has a fifty-two week low of $1.24 and a fifty-two week high of $12.75.

Institutional Trading of Fortress Biotech

Several large investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. purchased a new position in Fortress Biotech during the fourth quarter valued at $2,816,000. Renaissance Technologies LLC increased its position in Fortress Biotech by 1,005.2% during the first quarter. Renaissance Technologies LLC now owns 1,101,300 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 1,001,653 shares during the last quarter. CI Private Wealth LLC acquired a new stake in shares of Fortress Biotech during the fourth quarter valued at about $519,000. Millennium Management LLC increased its position in shares of Fortress Biotech by 569.9% during the second quarter. Millennium Management LLC now owns 876,193 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 745,405 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Fortress Biotech during the fourth quarter valued at about $1,794,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

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.