Fortress Biotech (NASDAQ:FBIO) Releases Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Fortress Biotech (NASDAQ:FBIO) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.32), FiscalAI reports. Fortress Biotech had a negative return on equity of 69.39% and a net margin of 6.40%.The business had revenue of $16.08 million for the quarter, compared to analyst estimates of $26.17 million.

Fortress Biotech Price Performance

FBIO stock opened at $2.47 on Thursday. The firm has a market cap of $76.67 million, a price-to-earnings ratio of -19.00 and a beta of 1.44. The company has a quick ratio of 1.97, a current ratio of 2.19 and a debt-to-equity ratio of 0.73. Fortress Biotech has a 12-month low of $1.33 and a 12-month high of $4.53. The company’s fifty day simple moving average is $3.25 and its 200 day simple moving average is $3.17.

Analysts Set New Price Targets

Several research analysts recently issued reports on FBIO shares. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Fortress Biotech in a research report on Monday, February 23rd. Zacks Research cut Fortress Biotech from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Wall Street Zen downgraded Fortress Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fortress Biotech in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortress Biotech has a consensus rating of “Hold” and a consensus target price of $17.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FBIO. Opaleye Management Inc. acquired a new position in shares of Fortress Biotech in the 4th quarter valued at about $3,989,000. Vanguard Group Inc. grew its stake in Fortress Biotech by 11.4% during the third quarter. Vanguard Group Inc. now owns 950,327 shares of the biopharmaceutical company’s stock worth $3,511,000 after purchasing an additional 97,405 shares during the period. Geode Capital Management LLC increased its holdings in Fortress Biotech by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 262,492 shares of the biopharmaceutical company’s stock worth $961,000 after purchasing an additional 18,071 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in Fortress Biotech in the fourth quarter worth approximately $667,000. Finally, Two Sigma Investments LP lifted its stake in Fortress Biotech by 85.4% in the third quarter. Two Sigma Investments LP now owns 84,981 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 39,149 shares during the period. 96.51% of the stock is owned by institutional investors.

Fortress Biotech Company Profile

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech’s business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.