Fortress Biotech (NASDAQ:FBIO) Issues Earnings Results, Beats Estimates By $0.04 EPS

Fortress Biotech (NASDAQ:FBIO) issued its quarterly earnings data on Friday. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04, FiscalAI reports. Fortress Biotech had a return on equity of 83.47% and a net margin of 163.32%. The business had revenue of $19.16 million during the quarter, compared to analyst estimates of $21.57 million.

Fortress Biotech Price Performance

FBIO stock traded down $0.11 during trading hours on Friday, hitting $1.88. 263,594 shares of the stock traded hands, compared to its average volume of 590,963. The stock has a 50-day simple moving average of $2.15 and a 200 day simple moving average of $2.73. The company has a market cap of $62.73 million, a P/E ratio of 0.71 and a beta of 1.27. Fortress Biotech has a one year low of $1.75 and a one year high of $4.53. The company has a current ratio of 3.96, a quick ratio of 3.83 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FBIO shares. Wall Street Zen lowered Fortress Biotech from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Fortress Biotech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fortress Biotech has a consensus rating of “Hold” and an average target price of $17.00.

Fortress Biotech Company Profile

Fortress Biotech, Inc. (NASDAQ: FBIO) is a biopharmaceutical company that develops and commercializes prescription medicines through a network of subsidiary companies and strategic partnerships. Its research and development activities have focused on areas including dermatology, immunology, oncology, rare diseases and other conditions with significant unmet medical needs. The company’s portfolio has included dermatology products such as ZILXI, a topical minocycline foam for the treatment of inflammatory lesions associated with rosacea, and Qbrexza, a topical treatment for primary axillary hyperhidrosis.