Equities analysts expect Fortress Biotech (NASDAQ:FBIO) to post ($0.31) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Fortress Biotech’s earnings, with estimates ranging from ($0.40) to ($0.26). The company is expected to announce its next quarterly earnings report on Monday, March 16th.
On average, analysts expect that Fortress Biotech will report full year earnings of ($0.76) per share for the current financial year, with EPS estimates ranging from ($0.87) to ($0.70). For the next year, analysts forecast that the company will report earnings of ($1.29) per share, with EPS estimates ranging from ($1.55) to ($0.90). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Fortress Biotech.
Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.11). The firm had revenue of $9.77 million during the quarter, compared to analyst estimates of $8.49 million. Fortress Biotech had a negative net margin of 143.08% and a negative return on equity of 131.74%.
A number of analysts recently commented on the company. ValuEngine lowered Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. B. Riley initiated coverage on Fortress Biotech in a research note on Wednesday, December 18th. They set a “buy” rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Fortress Biotech presently has a consensus rating of “Buy” and an average target price of $9.00.
Fortress Biotech stock traded down $0.20 during mid-day trading on Friday, reaching $2.61. 10,476 shares of the company’s stock were exchanged, compared to its average volume of 603,518. The business’s fifty day simple moving average is $2.29 and its 200 day simple moving average is $1.72. The firm has a market capitalization of $190.33 million, a PE ratio of -0.90 and a beta of 2.39. Fortress Biotech has a one year low of $1.00 and a one year high of $2.84. The company has a quick ratio of 3.53, a current ratio of 3.55 and a debt-to-equity ratio of 1.24.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Fortress Biotech by 65.8% during the second quarter. Vanguard Group Inc. now owns 2,112,586 shares of the biopharmaceutical company’s stock valued at $3,169,000 after purchasing an additional 838,514 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Fortress Biotech during the second quarter valued at approximately $246,000. Shikiar Asset Management Inc. raised its stake in shares of Fortress Biotech by 444.5% during the third quarter. Shikiar Asset Management Inc. now owns 177,500 shares of the biopharmaceutical company’s stock valued at $250,000 after acquiring an additional 144,900 shares in the last quarter. Jane Street Group LLC bought a new position in Fortress Biotech in the second quarter worth approximately $197,000. Finally, Macquarie Group Ltd. bought a new position in Fortress Biotech in the second quarter worth approximately $167,000. 11.66% of the stock is currently owned by institutional investors and hedge funds.
Fortress Biotech Company Profile
Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company develops CNDO-109, a lysate that treats cancer-related and other conditions; tramadol HCl for managing postoperative pain; CAEL-101 for the treatment of amyloid light chain amyloidosis; and CEVA101 for severe traumatic brain injury in children and adults in the United States.
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