Brokerages Expect Fortress Biotech (NASDAQ:FBIO) to Announce -$0.46 Earnings Per Share

Equities research analysts forecast that Fortress Biotech (NASDAQ:FBIO) will report earnings of ($0.46) per share for the current fiscal quarter, according to Zacks. Two analysts have provided 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 posted earnings of ($0.50) per share during the same quarter last year, which suggests a positive year over year growth rate of 8%. The company is expected to report its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Fortress Biotech will report full-year earnings of ($1.30) per share for the current fiscal year, with EPS estimates ranging from ($1.56) to ($1.03). For the next financial year, analysts expect that the business will report earnings of ($1.75) per share, with EPS estimates ranging from ($2.36) to ($1.13). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Fortress Biotech.

Fortress Biotech (NASDAQ:FBIO) last announced its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.31. The company had revenue of $6.48 million during the quarter, compared to analyst estimates of $6.41 million.



FBIO has been the subject of several recent analyst reports. Zacks Investment Research cut shares of General Finance from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. HC Wainwright raised their price objective on shares of Acceleron Pharma from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Roth Capital reiterated a “sell” rating on shares of Ballard Power Systems in a research note on Monday, July 1st.

Shares of NASDAQ FBIO traded up $0.11 during midday trading on Friday, hitting $1.37. The company had a trading volume of 372,217 shares, compared to its average volume of 552,374. The company has a quick ratio of 2.78, a current ratio of 2.79 and a debt-to-equity ratio of 1.94. Fortress Biotech has a twelve month low of $0.49 and a twelve month high of $2.78. The firm has a 50-day simple moving average of $1.62.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Fortress Biotech by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 379,972 shares of the biopharmaceutical company’s stock worth $326,000 after acquiring an additional 43,239 shares during the last quarter. Cpwm LLC raised its position in 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 acquiring an additional 20,000 shares during the last quarter. National Asset Management Inc. raised its position in 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 acquiring an additional 8,750 shares during the last quarter. Rhumbline Advisers raised its position in Fortress Biotech by 45.7% during the fourth quarter. Rhumbline Advisers now owns 45,131 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 14,150 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in Fortress Biotech by 96.5% during the fourth quarter. Two Sigma Investments LP now owns 30,954 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 15,200 shares during the last quarter. Institutional investors own 13.13% of the company’s stock.

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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