Zacks Investment Research Lowers Fortress Biotech, Inc. (FBIO) to Sell

Zacks Investment Research lowered shares of Fortress Biotech, Inc. (NASDAQ:FBIO) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “Fortress Biotech, Inc. is a biopharmaceutical company. The company is engaged in acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress Biotech, Inc., formerly known as Coronado Biosciences, Inc., is based in NEW YORK, United States. “

A number of other analysts have also issued reports on the company. FBR & Co reaffirmed a buy rating on shares of Fortress Biotech in a research report on Tuesday, July 4th. Rodman & Renshaw initiated coverage on Fortress Biotech in a research report on Tuesday, July 11th. They set a buy rating and a $11.00 target price on the stock. ValuEngine raised Fortress Biotech from a sell rating to a hold rating in a research report on Wednesday, June 7th. Finally, HC Wainwright set a $11.00 target price on Fortress Biotech and gave the stock a buy rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Fortress Biotech presently has an average rating of Buy and an average price target of $9.67.

Fortress Biotech (NASDAQ:FBIO) traded down 2.81% on Tuesday, hitting $4.50. The stock had a trading volume of 193,676 shares. The company’s 50 day moving average is $4.44 and its 200 day moving average is $4.08. Fortress Biotech has a 12-month low of $1.88 and a 12-month high of $5.13. The firm’s market cap is $227.37 million.

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Large investors have recently bought and sold shares of the company. State of Wisconsin Investment Board bought a new position in shares of Fortress Biotech during the second quarter valued at approximately $119,000. National Asset Management Inc. grew its holdings in shares of Fortress Biotech by 38.4% during the second quarter. National Asset Management Inc. now owns 28,850 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 8,000 shares during the last quarter. Strs Ohio bought a new position in shares of Fortress Biotech during the second quarter valued at approximately $164,000. Rhumbline Advisers grew its holdings in shares of Fortress Biotech by 2.8% during the second quarter. Rhumbline Advisers now owns 38,846 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 1,075 shares during the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of Fortress Biotech during the first quarter valued at approximately $188,000. 11.99% of the stock is owned by institutional investors.

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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