Brokerages Expect Fortress Biotech, Inc. (NASDAQ:FBIO) Will Announce Quarterly Sales of $20.06 Million

Analysts expect Fortress Biotech, Inc. (NASDAQ:FBIOGet Rating) to report sales of $20.06 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Fortress Biotech’s earnings. The highest sales estimate is $23.70 million and the lowest is $17.32 million. Fortress Biotech posted sales of $11.59 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 73.1%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Fortress Biotech will report full year sales of $92.85 million for the current year, with estimates ranging from $76.60 million to $103.17 million. For the next fiscal year, analysts anticipate that the business will report sales of $144.70 million, with estimates ranging from $102.70 million to $244.84 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Fortress Biotech.

Fortress Biotech (NASDAQ:FBIOGet Rating) last issued its quarterly earnings data on Monday, March 28th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.46). Fortress Biotech had a negative net margin of 94.06% and a negative return on equity of 27.80%.

A number of research firms have commented on FBIO. TheStreet downgraded shares of Fortress Biotech from a “c-” rating to a “d+” rating in a research report on Monday, February 14th. Zacks Investment Research downgraded shares of Fortress Biotech from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 31st. Roth Capital restated a “buy” rating on shares of Fortress Biotech in a research report on Tuesday, March 29th. Finally, StockNews.com upgraded shares of Fortress Biotech from a “sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.38.

Shares of NASDAQ:FBIO opened at $1.05 on Thursday. The company has a market cap of $109.72 million, a PE ratio of -1.33 and a beta of 2.29. The company’s 50-day moving average price is $1.36 and its 200 day moving average price is $2.21. Fortress Biotech has a fifty-two week low of $1.02 and a fifty-two week high of $4.79. The company has a quick ratio of 3.33, a current ratio of 3.43 and a debt-to-equity ratio of 0.21.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in Fortress Biotech by 768.2% during the second quarter. Morgan Stanley now owns 266,945 shares of the biopharmaceutical company’s stock valued at $953,000 after purchasing an additional 236,198 shares in the last quarter. Bank of America Corp DE lifted its stake in Fortress Biotech by 102.1% in the second quarter. Bank of America Corp DE now owns 106,334 shares of the biopharmaceutical company’s stock valued at $379,000 after acquiring an additional 53,730 shares during the last quarter. Millennium Management LLC lifted its stake in Fortress Biotech by 73.3% in the second quarter. Millennium Management LLC now owns 34,621 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 14,646 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Fortress Biotech by 108.4% in the second quarter. Wells Fargo & Company MN now owns 151,972 shares of the biopharmaceutical company’s stock valued at $543,000 after acquiring an additional 79,049 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Fortress Biotech in the third quarter valued at approximately $62,000. 30.77% of the stock is currently owned by institutional investors and hedge funds.

Fortress Biotech Company Profile (Get Rating)

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris; Targadox for severe acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; and Accutane capsules for severe recalcitrant nodular acne.

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