-$0.26 Earnings Per Share Expected for Fortress Biotech (NASDAQ:FBIO) This Quarter

Wall Street analysts expect Fortress Biotech (NASDAQ:FBIO) to post ($0.26) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Fortress Biotech’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.53). Fortress Biotech reported earnings of ($0.44) per share during the same quarter last year, which would suggest a positive year over year growth rate of 40.9%. The business is scheduled to issue its next earnings results on Tuesday, November 10th.

On average, analysts expect that Fortress Biotech will report full year earnings of ($0.93) per share for the current financial year, with EPS estimates ranging from ($1.47) to ($0.73). For the next financial year, analysts forecast that the firm will report earnings of ($0.61) per share, with EPS estimates ranging from ($0.85) to ($0.16). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Fortress Biotech.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.08. The company had revenue of $9.46 million for the quarter, compared to the consensus estimate of $11.59 million. Fortress Biotech had a negative return on equity of 53.93% and a negative net margin of 124.63%.

FBIO has been the topic of several recent analyst reports. BidaskClub downgraded Fortress Biotech from a “strong-buy” rating to a “buy” rating in a research report on Thursday. B. Riley lifted their price target on Fortress Biotech from $6.00 to $8.00 in a research report on Friday, August 21st. Zacks Investment Research downgraded Fortress Biotech from a “buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine raised Fortress Biotech from a “hold” rating to a “buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $8.33.

NASDAQ FBIO traded up $0.18 during trading on Friday, hitting $4.04. The company’s stock had a trading volume of 1,142,888 shares, compared to its average volume of 881,782. The company has a quick ratio of 3.49, a current ratio of 3.51 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average price of $3.73 and a 200 day moving average price of $2.74. The firm has a market cap of $355.55 million, a P/E ratio of -4.64 and a beta of 2.27. Fortress Biotech has a 52 week low of $1.04 and a 52 week high of $4.78.

In related news, CFO Robyn Hunter sold 28,450 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $4.38, for a total value of $124,611.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Malcolm Hoenlein purchased 16,667 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $300,006.00. Following the purchase, the director now owns 16,667 shares in the company, valued at $300,006. The disclosure for this purchase can be found here. 29.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in FBIO. Opaleye Management Inc. acquired a new stake in Fortress Biotech in the 2nd quarter valued at $10,264,000. Nantahala Capital Management LLC boosted its stake in Fortress Biotech by 142.0% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,424,938 shares of the biopharmaceutical company’s stock valued at $11,859,000 after buying an additional 2,596,138 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Fortress Biotech in the 2nd quarter valued at $746,000. Acadian Asset Management LLC boosted its stake in Fortress Biotech by 73.3% in the 1st quarter. Acadian Asset Management LLC now owns 439,160 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 185,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Fortress Biotech in the 2nd quarter valued at $416,000. 25.76% 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. It markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ala-Scalp and Triderm, which are used for the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses; and Ala-Quin, an antibacterial and antifungal cream.

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Earnings History and Estimates for Fortress Biotech (NASDAQ:FBIO)

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