Fortress Biotech (FBIO) Issues Quarterly Earnings Results

Fortress Biotech (NASDAQ:FBIO) released its earnings results on Friday. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $63.69 million for the quarter, compared to analysts’ expectations of $64.88 million.

Shares of FBIO traded up $0.01 on Friday, reaching $1.10. The stock had a trading volume of 194,583 shares, compared to its average volume of 336,941. The stock has a market cap of $59.23 million, a P/E ratio of -0.68 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.76 and a quick ratio of 2.76. Fortress Biotech has a twelve month low of $0.83 and a twelve month high of $5.54.

A number of research firms recently weighed in on FBIO. ValuEngine cut Fortress Biotech from a “buy” rating to a “hold” rating in a report on Monday, July 16th. HC Wainwright set a $11.00 price target on Fortress Biotech and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, Zacks Investment Research upgraded Fortress Biotech from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Fortress Biotech presently has an average rating of “Buy” and an average price target of $10.67.

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Fortress Biotech Company Profile

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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