Fortress Biotech (FBIO) Announces Quarterly Earnings Results
Fortress Biotech (NASDAQ:FBIO) released its earnings results on Friday. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.18, MarketWatch Earnings reports. Fortress Biotech had a negative net margin of 47.97% and a negative return on equity of 71.96%. The firm had revenue of $63.69 million for the quarter, compared to analyst estimates of $64.88 million.
FBIO stock traded up $0.01 during mid-day trading on Friday, hitting $1.10. The stock had a trading volume of 194,583 shares, compared to its average volume of 336,941. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.76. Fortress Biotech has a 52 week low of $0.83 and a 52 week high of $5.54. The firm has a market cap of $59.23 million, a P/E ratio of -0.68 and a beta of 1.46.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Fortress Biotech from a “sell” rating to a “hold” rating in a report on Friday, August 10th. HC Wainwright set a $11.00 target price on shares of Fortress Biotech and gave the company a “buy” rating in a report on Friday, August 10th. Finally, ValuEngine lowered shares of Fortress Biotech from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $10.67.
About Fortress Biotech
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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