Fortress Biotech (NASDAQ:FBIO – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.
Other equities research analysts have also issued reports about the stock. Alliance Global Partners started coverage on shares of Fortress Biotech in a report on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Fortress Biotech in a research note on Thursday, May 16th.
Read Our Latest Report on FBIO
Fortress Biotech Stock Down 1.6 %
Fortress Biotech (NASDAQ:FBIO – Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The biopharmaceutical company reported ($0.53) EPS for the quarter. The business had revenue of $19.95 million for the quarter, compared to the consensus estimate of $14.46 million. Fortress Biotech had a negative return on equity of 770.86% and a negative net margin of 69.13%. Analysts anticipate that Fortress Biotech will post -6.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in FBIO. Gladstone Institutional Advisory LLC bought a new stake in Fortress Biotech in the fourth quarter valued at $36,000. Virtu Financial LLC bought a new position in shares of Fortress Biotech in the first quarter worth approximately $31,000. PFG Investments LLC purchased a new position in shares of Fortress Biotech in the first quarter worth $33,000. Wealth Management Partners LLC bought a new stake in shares of Fortress Biotech in the fourth quarter worth approximately $60,000. Finally, Choreo LLC bought a new position in shares of Fortress Biotech during the 4th quarter valued at $109,000. 96.51% of the stock is owned by hedge funds and other institutional investors.
About Fortress Biotech
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.
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