Wall Street brokers expect Fortress Biotech, Inc. (NASDAQ:FBIO – Get Rating) to report earnings of ($0.21) per share for the current quarter, reports Zacks Investment Research. Five analysts have made earnings estimates for Fortress Biotech. The lowest EPS estimate is ($0.37) and the highest is ($0.06). Fortress Biotech reported earnings per share of ($0.11) in the same quarter last year, suggesting a negative 90.9% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Fortress Biotech to report annual earnings of ($0.75) per share for the current year, with EPS estimates ranging from ($1.50) to ($0. $30). For next year, analysts expect the company to post earnings of $0.10 per share, with EPS estimates ranging from ($1.45) to $2.19. Zacks Investment Research earnings per share averages are an average average based on a survey of analysts who provide coverage for Fortress Biotech.
Fortress Biotech (NASDAQ:FBIO – Get Rating) last reported results on Monday, March 28. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing analyst consensus estimates of $0.08 per ($0.46). Fortress Biotech had a negative return on equity of 27.80% and a negative net margin of 94.06%.
A number of brokerages have recently commented on FBIO. TheStreet downgraded shares of Fortress Biotech from a “c-” rating to a “d+” rating in a Monday, February 14, report. StockNews.com upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Monday. Roth Capital reaffirmed a “buy” rating on Fortress Biotech shares in a Tuesday, March 29 research report. Finally, Zacks Investment Research moved shares of Fortress Biotech from a “hold” rating to a “strong sell” rating in a Thursday, March 31 research report. One analyst rated the stock with a sell rating, one gave the stock a hold rating, and four gave the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $10.38.
Shares on the NASDAQ FBIO traded down $0.04 at midday Tuesday, hitting $1.02. 3,633 shares of the company were traded, with an average volume of 519,445. The stock’s 50-day moving average price is $1.39 and its 200-day moving average price is $2.23. The stock has a market capitalization of $106.59 million, a P/E ratio of -1.29 and a beta of 2.29. Fortress Biotech has a 1-year low of $1.02 and a 1-year high of $4.79. The company has a quick ratio of 3.33, a current ratio of 3.43 and a leverage ratio of 0.21.
Hedge funds have recently increased or reduced their stakes in the company. Citigroup Inc. increased its position in Fortress Biotech shares by 160.5% during the third quarter. Citigroup Inc. now owns 8,879 shares of the biopharmaceutical company worth $29,000 after buying an additional 5,470 shares last quarter. Marshall Wace LLP bought a new stock position in Fortress Biotech during Q4 for a value of approximately $30,000. Two Sigma Securities LLC purchased a new stock position in Fortress Biotech during Q3 for a value of approximately $33,000. BNP Paribas Arbitrage SA increased its position in Fortress Biotech shares by 319.9% in the third quarter. BNP Paribas Arbitrage SA now owns 12,459 shares of the biopharmaceutical company worth $40,000 after buying an additional 9,492 shares last quarter. Finally, ProShare Advisors LLC purchased a new position in Fortress Biotech stock during Q4 worth approximately $41,000. 30.77% of the shares are currently held by institutional investors.
About Fortress Biotech (Get an assessment)
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.
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