Fortress Biotech (NASDAQ:FBIO) Announces Quarterly Earnings Results

Fortress Biotech (NASDAQ:FBIO) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09, Fidelity Earnings reports. Fortress Biotech had a negative return on equity of 44.08% and a negative net margin of 131.98%.

Shares of FBIO traded up $0.34 during midday trading on Thursday, reaching $3.87. The stock had a trading volume of 18,704 shares, compared to its average volume of 939,892. Fortress Biotech has a 12-month low of $1.64 and a 12-month high of $5.08. The company has a current ratio of 6.38, a quick ratio of 6.35 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $4.00 and its 200 day moving average is $3.41. The company has a market capitalization of $362.63 million, a price-to-earnings ratio of -4.60 and a beta of 2.43.

Several equities research analysts have recently weighed in on FBIO shares. Dawson James upped their price target on Fortress Biotech from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. B. Riley reaffirmed a “buy” rating on shares of Fortress Biotech in a report on Thursday, December 17th. Zacks Investment Research raised Fortress Biotech from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Tuesday, March 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Fortress Biotech in a research note on Friday, February 26th. Six investment analysts have rated the stock with a buy rating, Fortress Biotech currently has a consensus rating of “Buy” and a consensus target price of $9.58.

About Fortress Biotech

Fortress Biotech, Inc develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ximino to treat inflammatory lesions of severe acne vulgaris.

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Earnings History for Fortress Biotech (NASDAQ:FBIO)

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