Fortress Biotech’s (FBIO) “Sell (D-)” Rating Reaffirmed at Weiss Ratings

Fortress Biotech (NASDAQ:FBIO)‘s stock had its “sell (d-)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Fortress Biotech from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. HC Wainwright reduced their price target on Fortress Biotech from $26.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.50.

Fortress Biotech Stock Down 4.6%

Shares of FBIO opened at $2.91 on Wednesday. The firm has a market capitalization of $86.57 million, a price-to-earnings ratio of -2.77 and a beta of 1.75. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.70 and a current ratio of 1.92. The business’s fifty day moving average price is $2.82 and its two-hundred day moving average price is $2.13. Fortress Biotech has a 52 week low of $1.33 and a 52 week high of $4.20.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.15). Fortress Biotech had a negative net margin of 24.84% and a negative return on equity of 301.81%. The firm had revenue of $16.41 million during the quarter, compared to the consensus estimate of $14.53 million. On average, analysts predict that Fortress Biotech will post -3.28 earnings per share for the current year.

Institutional Trading of Fortress Biotech

Several hedge funds and other institutional investors have recently modified their holdings of FBIO. Osaic Holdings Inc. grew its holdings in shares of Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 5,034 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Fortress Biotech by 6.4% during the second quarter. 180 Wealth Advisors LLC now owns 93,050 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 5,600 shares during the period. HB Wealth Management LLC grew its holdings in Fortress Biotech by 6.1% during the first quarter. HB Wealth Management LLC now owns 113,350 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 6,500 shares during the period. PFG Investments LLC grew its holdings in Fortress Biotech by 28.4% during the first quarter. PFG Investments LLC now owns 45,259 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 10,000 shares during the period. Finally, XTX Topco Ltd bought a new position in Fortress Biotech during the second quarter worth about $42,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

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.