Fortress Biotech Inc. (FBIO) to Post Q3 2016 Earnings of ($0.19) Per Share, Roth Capital Forecasts
Fortress Biotech Inc. (NASDAQ:FBIO) – Analysts at Roth Capital issued their Q3 2016 EPS estimates for shares of Fortress Biotech in a report issued on Monday. Roth Capital analyst J. Pantginis anticipates that the brokerage will post earnings of ($0.19) per share for the quarter. Roth Capital has a “Buy” rating and a $9.00 price objective on the stock. Roth Capital also issued estimates for Fortress Biotech’s Q4 2016 earnings at ($0.23) EPS, FY2016 earnings at ($1.03) EPS, FY2017 earnings at ($1.27) EPS, FY2018 earnings at ($1.51) EPS, FY2019 earnings at ($1.69) EPS and FY2020 earnings at ($1.97) EPS.
Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. Fortress Biotech had a negative return on equity of 79.62% and a negative net margin of 1,687.06%.
A number of other equities research analysts have also recently issued reports on FBIO. FBR & Co restated an “outperform” rating on shares of Fortress Biotech in a report on Wednesday, July 20th. Zacks Investment Research upgraded shares of Fortress Biotech from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Tuesday, September 20th.
Fortress Biotech (NASDAQ:FBIO) opened at 2.85 on Wednesday. The firm’s market capitalization is $138.70 million. The stock’s 50 day moving average price is $2.78 and its 200 day moving average price is $2.97. Fortress Biotech has a 12 month low of $2.10 and a 12 month high of $4.66.
In related news, SVP George Avgerinos sold 48,912 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $2.55, for a total value of $124,725.60. Following the completion of the sale, the senior vice president now owns 293,000 shares in the company, valued at $747,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 31.54% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Teachers Advisors Inc. bought a new stake in Fortress Biotech during the second quarter valued at $146,000. Schwab Charles Investment Management Inc. bought a new stake in Fortress Biotech during the second quarter valued at $154,000. Parametric Portfolio Associates LLC boosted its stake in Fortress Biotech by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 57,196 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 344 shares during the last quarter. California State Teachers Retirement System bought a new stake in Fortress Biotech during the second quarter valued at $192,000. Finally, Landscape Capital Management L.L.C. boosted its stake in Fortress Biotech by 208.0% in the first quarter. Landscape Capital Management L.L.C. now owns 69,290 shares of the biopharmaceutical company’s stock valued at $215,000 after buying an additional 46,790 shares during the last quarter. Institutional investors and hedge funds own 16.67% of the company’s stock.
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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