Fortress Biotech (FBIO) Set to Announce Earnings on Friday

Posted by Defense World Staff on Aug 10th, 2023

Fortress Biotech (NASDAQ:FBIO – Get Free Report) is scheduled to release its earnings data on Friday, August 11th.

Fortress Biotech (NASDAQ:FBIO – Get Free Report) last issued its quarterly earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $12.43 million for the quarter, compared to analyst estimates of $16.35 million. Fortress Biotech had a negative return on equity of 115.85% and a negative net margin of 143.74%. On average, analysts expect Fortress Biotech to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Fortress Biotech Price Performance

Shares of FBIO opened at $0.54 on Thursday. The firm has a market cap of $71.86 million, a PE ratio of -0.54 and a beta of 2.03. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 4.62. The company’s fifty day moving average is $0.57 and its two-hundred day moving average is $0.68. Fortress Biotech has a fifty-two week low of $0.48 and a fifty-two week high of $1.33.

Institutional Investors Weigh In On Fortress Biotech

A number of large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in Fortress Biotech by 113.0% during 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. Charles Schwab Investment Management Inc. increased its position in shares of Fortress Biotech by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 199,473 shares of the biopharmaceutical company’s stock worth $272,000 after acquiring an additional 12,966 shares during the last quarter. Morgan Stanley lifted 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 acquiring an additional 15,392 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Fortress Biotech by 49.3% in the fourth quarter. Wells Fargo & Company MN now owns 47,441 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 15,657 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in Fortress Biotech by 10.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 181,600 shares of the biopharmaceutical company’s stock valued at $149,000 after purchasing an additional 16,800 shares in the last quarter. Institutional investors and hedge funds own 25.81% of the company’s stock.

Wall Street Analyst Weigh In

FBIO has been the topic of a number of research reports. StockNews.com downgraded Fortress Biotech from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Cantor Fitzgerald decreased their price objective on shares of Fortress Biotech from $6.00 to $5.00 in a research note on Tuesday, May 16th.

View Our Latest Analysis on FBIO

Fortress Biotech Company Profile

(Get Free Report)

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.