Fortress Biotech (NASDAQ:FBIO) – B. Riley issued their FY2019 EPS estimates for shares of Fortress Biotech in a research report issued on Wednesday, December 18th. B. Riley analyst M. Mamtani forecasts that the biopharmaceutical company will post earnings per share of ($0.80) for the year. B. Riley currently has a “Buy” rating and a $9.00 target price on the stock. B. Riley also issued estimates for Fortress Biotech’s FY2021 earnings at ($1.09) EPS, FY2022 earnings at $1.42 EPS and FY2023 earnings at $3.48 EPS.
Separately, ValuEngine lowered shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Fortress Biotech currently has an average rating of “Buy” and an average price target of $9.00.
NASDAQ FBIO opened at $2.45 on Monday. The company has a current ratio of 3.55, a quick ratio of 3.53 and a debt-to-equity ratio of 1.24. Fortress Biotech has a 12 month low of $0.68 and a 12 month high of $2.59. The stock has a market cap of $162.79 million, a price-to-earnings ratio of -0.81 and a beta of 2.32. The company’s 50 day moving average is $1.89 and its two-hundred day moving average is $1.62.
Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.11). The company had revenue of $9.77 million for the quarter, compared to the consensus estimate of $8.49 million. Fortress Biotech had a negative net margin of 143.08% and a negative return on equity of 131.74%.
Hedge funds have recently modified their holdings of the business. Rational Advisors LLC bought a new stake in Fortress Biotech during the third quarter valued at about $105,000. Morgan Stanley boosted its stake in shares of Fortress Biotech by 65.7% in the second quarter. Morgan Stanley now owns 46,273 shares of the biopharmaceutical company’s stock worth $70,000 after acquiring an additional 18,351 shares during the period. Vanguard Group Inc. boosted its stake in shares of Fortress Biotech by 65.8% in the second quarter. Vanguard Group Inc. now owns 2,112,586 shares of the biopharmaceutical company’s stock worth $3,169,000 after acquiring an additional 838,514 shares during the period. Acadian Asset Management LLC grew its position in shares of Fortress Biotech by 43.1% during the second quarter. Acadian Asset Management LLC now owns 219,584 shares of the biopharmaceutical company’s stock worth $329,000 after purchasing an additional 66,133 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Fortress Biotech during the 2nd quarter valued at approximately $197,000. Institutional investors and hedge funds own 11.66% of the company’s stock.
Fortress Biotech Company Profile
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.