Brokerages Anticipate Fortress Biotech (NASDAQ:FBIO) to Announce -$0.46 EPS

Brokerages expect that Fortress Biotech (NASDAQ:FBIO) will announce earnings of ($0.46) per share for the current quarter, Zacks reports. Two analysts have made estimates for Fortress Biotech’s earnings, with the highest EPS estimate coming in at ($0.40) and the lowest estimate coming in at ($0.52). Fortress Biotech reported earnings of ($0.50) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The business is expected to report its next quarterly earnings results on Thursday, August 8th.

On average, analysts expect that Fortress Biotech will report full year earnings of ($1.30) per share for the current year, with EPS estimates ranging from ($1.56) to ($1.03). For the next year, analysts forecast that the business will post earnings of ($1.75) per share, with EPS estimates ranging from ($2.36) to ($1.13). Zacks’ EPS averages are an average based on a survey of research analysts that cover Fortress Biotech.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.31. The business had revenue of $6.48 million for the quarter, compared to analyst estimates of $6.41 million.

Several research firms have recently commented on FBIO. ValuEngine upgraded shares of Fortress Biotech from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of Fortress Biotech from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Roth Capital began coverage on shares of Fortress Biotech in a research note on Monday, July 1st. They issued a “buy” rating and a $4.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Fortress Biotech in a research note on Monday, May 13th.

Hedge funds have recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. purchased a new stake in shares of Fortress Biotech in the 2nd quarter valued at approximately $34,000. FNY Investment Advisers LLC purchased a new stake in shares of Fortress Biotech during the second quarter worth about $202,000. National Asset Management Inc. grew its holdings in shares of Fortress Biotech by 18.4% during the first quarter. National Asset Management Inc. now owns 56,417 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 8,750 shares in the last quarter. Cpwm LLC grew its holdings in shares of Fortress Biotech by 11.7% during the first quarter. Cpwm LLC now owns 191,000 shares of the biopharmaceutical company’s stock worth $340,000 after buying an additional 20,000 shares in the last quarter. Finally, Dowling & Yahnke LLC purchased a new stake in shares of Fortress Biotech during the first quarter worth about $36,000. Institutional investors own 12.92% of the company’s stock.

Shares of FBIO stock remained flat at $$1.30 during mid-day trading on Tuesday. 27,568 shares of the stock traded hands, compared to its average volume of 317,777. Fortress Biotech has a one year low of $0.49 and a one year high of $2.78. The firm has a market cap of $90.02 million, a price-to-earnings ratio of -0.43 and a beta of 2.48. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.78 and a current ratio of 2.79. The firm’s fifty day moving average price is $1.49.

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.

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