Fortress Biotech (NASDAQ:FBIO) Announces Earnings Results

Fortress Biotech (NASDAQ:FBIOGet Rating) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.10, Fidelity Earnings reports. Fortress Biotech had a negative net margin of 94.06% and a negative return on equity of 27.80%. During the same quarter last year, the company earned ($0.11) earnings per share.

Shares of FBIO traded up $0.06 during mid-day trading on Friday, hitting $0.86. 695,679 shares of the company traded hands, compared to its average volume of 683,029. Fortress Biotech has a 1-year low of $0.79 and a 1-year high of $4.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.33 and a current ratio of 3.43. The business has a 50 day moving average of $1.21 and a 200 day moving average of $2.04.

FBIO has been the subject of a number of research reports. Roth Capital reaffirmed a “buy” rating on shares of Fortress Biotech in a research note on Tuesday, March 29th. Zacks Investment Research raised shares of Fortress Biotech from a “strong sell” rating to a “hold” rating in a research note on Friday. StockNews.com lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet lowered shares of Fortress Biotech from a “c-” rating to a “d+” rating in a research report on Monday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $10.38.

Several institutional investors and hedge funds have recently bought and sold shares of FBIO. Advisor Group Holdings Inc. increased its holdings in Fortress Biotech by 113.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 10,620 shares during the period. Marshall Wace LLP acquired a new position in Fortress Biotech in the 4th quarter worth approximately $30,000. Envestnet Asset Management Inc. acquired a new position in Fortress Biotech in the 1st quarter worth approximately $33,000. BNP Paribas Arbitrage SA increased its holdings in Fortress Biotech by 319.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,459 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 9,492 shares during the period. Finally, Citigroup Inc. increased its holdings in Fortress Biotech by 119.7% in the 4th quarter. Citigroup Inc. now owns 19,510 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 10,631 shares during the period. Hedge funds and other institutional investors own 30.92% of the company’s stock.

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.

See Also

Earnings History for Fortress Biotech (NASDAQ:FBIO)

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