Fortress Biotech (FBIO) Downgraded to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Fortress Biotech (NASDAQ:FBIO) from a sell rating to a strong sell rating in a research report released on Tuesday morning.

Several other research firms have also recently weighed in on FBIO. Zacks Investment Research cut Fortress Biotech from a hold rating to a sell rating in a research note on Tuesday, September 12th. HC Wainwright reiterated a buy rating and set a $11.00 price target on shares of Fortress Biotech in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $11.00.

Shares of Fortress Biotech (FBIO) traded down $0.08 during trading hours on Tuesday, hitting $3.26. The stock had a trading volume of 138,949 shares, compared to its average volume of 166,680. Fortress Biotech has a 12 month low of $2.17 and a 12 month high of $5.13. The company has a market capitalization of $169.19, a PE ratio of -1.78 and a beta of 1.12. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.42.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.24). The firm had revenue of $46.89 million for the quarter, compared to the consensus estimate of $50.75 million. Fortress Biotech had a negative return on equity of 61.43% and a negative net margin of 65.80%. The business’s revenue was up 4709.2% compared to the same quarter last year. analysts forecast that Fortress Biotech will post -1.99 earnings per share for the current year.

In related news, SVP George Avgerinos sold 12,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $3.55, for a total value of $42,600.00. Following the completion of the sale, the senior vice president now directly owns 352,495 shares in the company, valued at $1,251,357.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lindsay A. Md Rosenwald acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average price of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,000 shares of the company’s stock, valued at $1,000,000. The disclosure for this purchase can be found here. 33.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio increased its holdings in Fortress Biotech by 301.4% in the third quarter. Strs Ohio now owns 138,900 shares of the biopharmaceutical company’s stock valued at $613,000 after purchasing an additional 104,300 shares during the period. State of Wisconsin Investment Board acquired a new stake in Fortress Biotech in the second quarter valued at $119,000. Geode Capital Management LLC increased its holdings in Fortress Biotech by 3.2% in the first quarter. Geode Capital Management LLC now owns 288,566 shares of the biopharmaceutical company’s stock valued at $1,067,000 after purchasing an additional 8,958 shares during the period. Citadel Advisors LLC acquired a new stake in Fortress Biotech in the third quarter valued at $101,000. Finally, Parametric Portfolio Associates LLC increased its holdings in Fortress Biotech by 3.3% in the second quarter. Parametric Portfolio Associates LLC now owns 59,224 shares of the biopharmaceutical company’s stock valued at $281,000 after purchasing an additional 1,913 shares during the period. Institutional investors and hedge funds own 12.05% of the company’s stock.

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Fortress Biotech Company Profile

Fortress Biotech, Inc, formerly Coronado Biosciences, Inc, is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products.

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