Zacks: Brokerages Expect Fortress Biotech, Inc. (NASDAQ:FBIO) Will Post Earnings of -$0.14 Per Share

Brokerages expect Fortress Biotech, Inc. (NASDAQ:FBIO) to report ($0.14) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Fortress Biotech’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.20). Fortress Biotech posted earnings per share of ($0.19) in the same quarter last year, which indicates a positive year-over-year growth rate of 26.3%. The company is expected to issue its next earnings report on Monday, August 9th.

On average, analysts expect that Fortress Biotech will report full year earnings of ($0.55) per share for the current fiscal year, with EPS estimates ranging from ($0.70) to ($0.40). For the next fiscal year, analysts forecast that the business will post earnings of $0.13 per share, with EPS estimates ranging from ($0.95) to $1.29. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Fortress Biotech.

Fortress Biotech (NASDAQ:FBIO) last posted its quarterly earnings results on Monday, May 17th. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. The business had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $13.51 million. Fortress Biotech had a negative return on equity of 23.41% and a negative net margin of 97.09%.

Several equities analysts have recently commented on the stock. Roth Capital boosted their target price on shares of Fortress Biotech from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. B. Riley lowered their target price on shares of Fortress Biotech from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, June 17th. Zacks Investment Research lowered Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Fortress Biotech in a research note on Thursday, April 1st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.63.

Several large investors have recently modified their holdings of the business. Truist Financial Corp bought a new position in shares of Fortress Biotech during the 4th quarter valued at approximately $32,000. WMS Partners LLC bought a new position in shares of Fortress Biotech during the 4th quarter valued at approximately $37,000. Axiom Investment Management LLC bought a new position in shares of Fortress Biotech during the 1st quarter valued at approximately $37,000. Spotlight Asset Group Inc. bought a new position in shares of Fortress Biotech during the 1st quarter valued at approximately $38,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Fortress Biotech during the 1st quarter valued at approximately $41,000. 32.11% of the stock is owned by institutional investors and hedge funds.

FBIO stock opened at $3.26 on Thursday. Fortress Biotech has a one year low of $2.12 and a one year high of $6.10. The stock has a fifty day moving average of $3.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.91 and a quick ratio of 5.87. The stock has a market capitalization of $317.26 million, a P/E ratio of -5.82 and a beta of 2.49.

About Fortress Biotech

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.

Recommended Story: Strangles

Get a free copy of the Zacks research report on Fortress Biotech (FBIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fortress Biotech (NASDAQ:FBIO)

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.