Fortress Biotech (NASDAQ: FBIO – Get Rating) released its earnings results Thursday. The biopharmaceutical company reported ($ 0.18) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($ 0.28) by $ 0.10, according to Fidelity Earnings. Fortress Biotech had a negative net margin of 94.06% and a negative return on equity of 27.80%. During the same quarter last year, the company earned ($ 0.11) earnings per share.
Shares of FBIO were up $ 0.06 during mid-day trading on Friday, reaching $ 0.86. 695,679 shares of the company were exchanged hands, compared to its average volume of 683,029. Fortress Biotech has a 1-year low of $ 0.79 and a 1-year high of $ 4.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.33, and a current ratio of 3.43. The company has a 50-day moving average of $ 1.21 and a 200-day moving average of $ 2.04.
FBIO has been the subject of numerous research reports. Roth Capital reaffirmed a “buy” rating on Fortress Biotech shares in a research note on Tuesday, March 29. Zacks Investment Research lifted Fortress Biotech’s stock from a “strong sell” rating to a “hold” rating in a research note Friday. StockNews.com downgraded Fortress Biotech’s stock from a “hold” rating to a “sell” rating in a research note Wednesday. Finally, TheStreet downgraded Fortress Biotech’s stock from a “c-” rating to a “d +” rating in a research report on Monday, Feb. 14. One analyst rated the stock with a sell rating, one assigned a hold rating, and four assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average “Buy” rating and an average target price of $ 10.38.
Several institutional investors and hedge funds have recently bought and sold shares of FBIO. Advisor Group Holdings Inc. increased its holdings in Fortress Biotech by 113.0% in Q1. Advisor Group Holdings Inc. now owns 20,020 shares of the biopharmaceutical company valued at $ 27,000 after purchasing an additional 10,620 shares during the period. Marshall Wace LLP acquired a new position in Fortress Biotech in Q4 worth approximately $ 30,000. Envestnet Asset Management Inc. acquired a new position in Fortress Biotech in Q1 for approximately $ 33,000. BNP Paribas Arbitrage SA increased its holdings in Fortress Biotech by 319.9% in the third quarter. BNP Paribas Arbitrage SA now owns 12,459 shares of the biopharmaceutical company worth $ 40,000 after purchasing an additional 9,492 shares during the period. Finally, Citigroup Inc. increased its holdings in Fortress Biotech by 119.7% in the fourth quarter. Citigroup Inc. now owns 19,510 shares of the biopharmaceutical company worth $ 49,000 after purchasing an additional 10,631 shares during the period. Hedge funds and other institutional investors own 30.92% of the company’s shares.
Fortress Biotech Company Profile (Get evaluation)
Fortress Biotech, Inc, a biopharmaceutical company, develops and markets pharmaceutical and biotech products. The company markets dermatological products, such as Ximino capsules for the treatment of moderate to severe inflammatory lesions of moderate to severe non-nodular acne vulgaris only; Targadox for severe acne; Exelderm cream for the symptoms of ringworm and itching; Ceracade for dry skin conditions; Luxamend for wound dressing and management; and Accutane capsules for severe recalcitrant nodular acne.
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