Research Analysts Set Expectations for Fortress Biotech, Inc.’s Q1 2024 Earnings (NASDAQ:FBIO)

Fortress Biotech, Inc. (NASDAQ:FBIO) – HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Fortress Biotech in a research report issued to clients and investors on Tuesday, April 9th. HC Wainwright analyst J. Pantginis expects that the biopharmaceutical company will post earnings per share of ($2.60) for the quarter. The consensus estimate for Fortress Biotech’s current full-year earnings is ($5.12) per share. HC Wainwright also issued estimates for Fortress Biotech’s Q2 2024 earnings at ($2.24) EPS, Q3 2024 earnings at ($2.08) EPS, Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($8.03) EPS, FY2025 earnings at ($6.91) EPS and FY2026 earnings at ($6.51) EPS.

Several other research firms have also weighed in on FBIO. Alliance Global Partners started coverage on Fortress Biotech in a report on Tuesday, March 19th. They set a “buy” rating and a $5.00 target price on the stock. Roth Mkm started coverage on Fortress Biotech in a report on Friday, March 15th. They set a “buy” rating and a $10.00 target price on the stock. Finally, StockNews.com lowered Fortress Biotech from a “hold” rating to a “sell” rating in a report on Friday.

Fortress Biotech Price Performance

Shares of NASDAQ:FBIO opened at $1.80 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 38.42. Fortress Biotech has a 1 year low of $1.24 and a 1 year high of $12.75. The business has a fifty day simple moving average of $1.93 and a 200 day simple moving average of $2.35. The firm has a market cap of $34.63 million, a price-to-earnings ratio of -0.22 and a beta of 1.51.

Hedge Funds Weigh In On Fortress Biotech

A number of institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its stake in shares of Fortress Biotech by 113.0% in the first quarter. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 10,620 shares during the period. Gladstone Institutional Advisory LLC bought a new position in shares of Fortress Biotech in the fourth quarter worth about $36,000. Charles Schwab Investment Management Inc. increased its stake in shares of Fortress Biotech by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock worth $272,000 after purchasing an additional 12,966 shares during the period. Morgan Stanley increased its stake in shares of Fortress Biotech by 16.7% in the fourth quarter. Morgan Stanley now owns 107,579 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 15,392 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Fortress Biotech by 49.3% in the fourth quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 15,657 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Fortress Biotech Company Profile

Fortress Biotech, Inc, a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino an oral minocycline drug for the treatment of moderate to severe acne; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Exelderm cream for antifungal intended for topical use; Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Amzeeq; Zilxi; and Accutane capsules for severe recalcitrant nodular acne.