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

A number of 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 set a $11.00 price target on Fortress Biotech and gave the company a buy rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $11.00.

Shares of Fortress Biotech (NASDAQ FBIO) opened at $3.80 on Friday. Fortress Biotech has a 12 month low of $1.88 and a 12 month high of $5.13. 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 announced 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). Fortress Biotech had a negative return on equity of 61.43% and a negative net margin of 65.80%. The company had revenue of $46.89 million for the quarter, compared to the consensus estimate of $50.75 million. The company’s quarterly revenue was up 4709.2% on a year-over-year basis. research analysts anticipate that Fortress Biotech will post -1.61 earnings per share for the current year.

In other Fortress Biotech news, CEO Lindsay A. Md Rosenwald purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the purchase, the chief executive officer now owns 40,000 shares in the company, valued at $1,000,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FBIO. Citadel Advisors LLC acquired a new position in Fortress Biotech in the 3rd quarter valued at $101,000. State of Wisconsin Investment Board acquired a new position in Fortress Biotech in the 2nd quarter valued at $119,000. National Asset Management Inc. grew its holdings in Fortress Biotech by 38.4% in the 2nd quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 8,000 shares in the last quarter. Strs Ohio acquired a new position in Fortress Biotech in the 2nd quarter valued at $164,000. Finally, Rhumbline Advisers grew its holdings in Fortress Biotech by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 1,075 shares in the last quarter. 12.05% of the stock is currently owned by hedge funds and other institutional investors.

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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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