Fortress Biotech (NASDAQ:FBIO) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Fortress Biotech (NASDAQ:FBIO) from a buy rating to a hold rating in a report released on Saturday.

A number of other analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Fortress Biotech in a research note on Monday, February 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Fortress Biotech in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Fortress Biotech from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortress Biotech currently has an average rating of “Hold” and an average target price of $17.00.

Fortress Biotech Stock Down 4.2%

Shares of NASDAQ FBIO opened at $2.76 on Friday. Fortress Biotech has a 1 year low of $1.33 and a 1 year high of $4.53. The firm has a market cap of $85.67 million, a price-to-earnings ratio of -15.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.97 and a current ratio of 2.19. The stock’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $3.20.

Institutional Investors Weigh In On Fortress Biotech

A number of institutional investors have recently modified their holdings of FBIO. Osaic Holdings Inc. grew its position in shares of Fortress Biotech by 18.4% during the second quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 5,034 shares during the last quarter. PFG Investments LLC lifted its position in Fortress Biotech by 22.1% in the 4th quarter. PFG Investments LLC now owns 34,701 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 6,282 shares during the last quarter. Bank of America Corp DE boosted its stake in Fortress Biotech by 923.3% during the 3rd quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 6,426 shares during the period. State Street Corp boosted its stake in Fortress Biotech by 11.5% during the 4th quarter. State Street Corp now owns 77,266 shares of the biopharmaceutical company’s stock valued at $283,000 after purchasing an additional 8,000 shares during the period. Finally, Visionary Wealth Advisors bought a new position in Fortress Biotech in the 4th quarter worth about $41,000. Institutional investors own 96.51% of the company’s stock.

Fortress Biotech Company Profile

Fortress Biotech, Inc is a clinical?stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority?owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in?licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.