Fortress Biotech (FBIO) Announces Earnings Results, Beats Expectations By $0.18 EPS

Fortress Biotech (NASDAQ:FBIO) posted its earnings results on Friday. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.18, MarketWatch Earnings reports. Fortress Biotech had a negative return on equity of 71.96% and a negative net margin of 47.97%. The firm had revenue of $63.69 million for the quarter, compared to analyst estimates of $64.88 million.

Shares of Fortress Biotech stock traded up $0.01 during trading hours on Friday, reaching $1.10. 194,583 shares of the company’s stock were exchanged, compared to its average volume of 336,941. Fortress Biotech has a 52-week low of $0.83 and a 52-week high of $5.54. The firm has a market cap of $59.23 million, a PE ratio of -0.68 and a beta of 1.46. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.76.

A number of equities research analysts recently issued reports on FBIO shares. ValuEngine lowered Fortress Biotech from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. HC Wainwright set a $11.00 price target on Fortress Biotech and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised Fortress Biotech from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $10.67.

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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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Earnings History for Fortress Biotech (NASDAQ:FBIO)

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