-$0.33 EPS Expected for Fortress Biotech (NASDAQ:FBIO) This Quarter

Wall Street brokerages predict that Fortress Biotech (NASDAQ:FBIO) will post earnings per share of ($0.33) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fortress Biotech’s earnings. The highest EPS estimate is ($0.26) and the lowest is ($0.38). Fortress Biotech reported earnings of ($0.37) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.8%. The firm is scheduled to report its next quarterly earnings results on Friday, November 8th.

On average, analysts expect that Fortress Biotech will report full year earnings of ($0.80) per share for the current fiscal year, with EPS estimates ranging from ($0.85) to ($0.75). For the next financial year, analysts forecast that the company will report earnings of ($1.41) per share, with EPS estimates ranging from ($1.63) to ($1.00). Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Fortress Biotech.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.22. The company had revenue of $9.25 million for the quarter, compared to the consensus estimate of $7.51 million.

A number of research firms have recently issued reports on FBIO. Zacks Investment Research cut shares of Fortress Biotech from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Dawson James began coverage on shares of Fortress Biotech in a research note on Monday, August 26th. They set a “buy” rating and a $19.00 target price for the company. Finally, ValuEngine cut shares of Fortress Biotech from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $9.00.

Several hedge funds and other institutional investors have recently bought and sold shares of FBIO. FNY Investment Advisers LLC acquired a new stake in shares of Fortress Biotech during the 2nd quarter worth about $202,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of Fortress Biotech during the 2nd quarter worth about $34,000. Acadian Asset Management LLC lifted its stake in shares of Fortress Biotech by 43.1% during the 2nd quarter. Acadian Asset Management LLC now owns 219,584 shares of the biopharmaceutical company’s stock worth $329,000 after buying an additional 66,133 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Fortress Biotech in the 2nd quarter worth about $91,000. Finally, A.R.T. Advisors LLC acquired a new stake in Fortress Biotech in the 2nd quarter worth about $56,000. Institutional investors own 12.70% of the company’s stock.

Shares of FBIO stock traded up $0.11 during trading hours on Tuesday, hitting $1.44. 293,100 shares of the company were exchanged, compared to its average volume of 535,377. The business has a 50 day moving average of $1.36 and a two-hundred day moving average of $1.57. The company has a current ratio of 4.49, a quick ratio of 4.47 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $93.90 million, a PE ratio of -0.48 and a beta of 2.25. Fortress Biotech has a 52 week low of $0.49 and a 52 week high of $2.59.

About Fortress Biotech

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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