Fortress Biotech (NASDAQ:FBIO) Announces Results


Fortress Biotech Inc (NASDAQ:FBIO – Get Rating) released its results on Thursday. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.28) by $0.10, Fidelity Earnings reports. Fortress Biotech had a negative net margin of 94.06% and a negative return on equity of 27.80%. In the same quarter last year, the company made ($0.11) earnings per share.

Shares of FBIO traded at $0.06 during Friday’s midday session, hitting $0.86. 695,679 shares of the company were traded, against an average volume of 683,029. Fortress Biotech has a 1-year low of $0.79 and a 1-year high of $4.49. The company has a debt ratio of 0.21, a quick ratio of 3.33 and a current ratio of 3.43. The company has a 50-day moving average of $1.21 and a 200-day moving average of $2.04.

FBIO has been the subject of a number of research reports. Roth Capital reaffirmed a “buy” rating on Fortress Biotech shares in a Tuesday, March 29 research note. Zacks Investment Research upgraded shares of Fortress Biotech from a “strong sell” rating to a “hold” rating in a research note on Friday. StockNews.com downgraded shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet downgraded shares of Fortress Biotech from a “c-” rating to a “d+” rating in a Monday, February 14 research report. One analyst rated the stock with a sell rating, one gave the company a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat, the stock has an average buy rating and an average target price of $10.38.

Several institutional investors and hedge funds have recently bought and sold shares of FBIO. Advisor Group Holdings Inc. increased its stake in Fortress Biotech by 113.0% in Q1. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company worth $27,000 after purchasing an additional 10,620 shares during the period. Marshall Wace LLP acquired a new position in Fortress Biotech in Q4 worth approximately $30,000. Envestnet Asset Management Inc. acquired a new position in Fortress Biotech in Q1 worth approximately $33,000. BNP Paribas Arbitrage SA increased its stake in Fortress Biotech by 319.9% ​​in the third quarter. BNP Paribas Arbitrage SA now owns 12,459 shares of the biopharmaceutical company worth $40,000 after purchasing an additional 9,492 shares during the period. Finally, Citigroup Inc. increased its stake in Fortress Biotech by 119.7% in the 4th quarter. Citigroup Inc. now owns 19,510 shares of the biopharmaceutical company worth $49,000 after purchasing an additional 10,631 shares during the period. Hedge funds and other institutional investors hold 30.92% of the company’s shares.

Fortress Biotech Company Profile (Get a rating)

Fortress Biotech, Inc., a biopharmaceutical company, develops and markets pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of moderate to severe non-nodular acne vulgaris; Targadox for severe acne; Exelderm cream for symptoms of ringworm and jock itch; Ceracade for dry skin; Luxamend for dressing and treating wounds; and Accutane capsules for severe recalcitrant nodular acne.

See also

Fortress Biotech Earnings History (NASDAQ: FBIO)



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