Fortress Biotech (NASDAQ:FBIO) Issues Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Key Points

• Fortress Biotech reported a loss of ($0.21) EPS for the quarter, missing the consensus by $0.32, and revenue came in at $16.08 million versus expected $26.17 million, marking a significant shortfall.
• Shares traded at $2.79 with a market cap of $86.6M and heavy institutional ownership (96.51%); analysts are mixed but the consensus rating is Hold with an average target price of $17.00.
• The company shows a positive net margin of 6.4% but a negative return on equity of 69.39%, and its balance sheet metrics include a current ratio of 2.19, quick ratio of 1.97 and debt-to-equity of 0.73.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.32), FiscalAI reports. The business had revenue of $16.08 million for the quarter, compared to analysts' expectations of $26.17 million. Fortress Biotech had a net margin of 6.40% and a negative return on equity of 69.39%.

Fortress Biotech Stock Performance

NASDAQ:FBIO traded up $0.09 during trading hours on Tuesday, reaching $2.79. The company had a trading volume of 700,726 shares, compared to its average volume of 459,050. The firm has a market cap of $86.60 million, a price-to-earnings ratio of -15.50 and a beta of 1.38. The company has a current ratio of 2.19, a quick ratio of 1.97 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average price is $3.27 and its 200-day moving average price is $3.18. Fortress Biotech has a 52 week low of $1.33 and a 52 week high of $4.53.

Institutional Trading of Fortress Biotech

Several large investors have recently modified their holdings of FBIO. Bank of America Corp DE increased its position in Fortress Biotech by 923.3% in the third quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 6,426 shares in the last quarter. Visionary Wealth Advisors bought a new position in shares of Fortress Biotech during the 4th quarter valued at approximately $41,000. XTX Topco Ltd bought a new position in shares of Fortress Biotech during the 2nd quarter valued at approximately $42,000. Osaic Holdings Inc. increased its holdings in Fortress Biotech by 18.4% in the 2nd quarter. Osaic Holdings Inc. now owns 32,379 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 5,034 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in Fortress Biotech in the 3rd quarter worth approximately $67,000. Institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen cut Fortress Biotech from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Fortress Biotech in a research report on Friday. HC Wainwright reissued a "buy" rating and issued a $17.00 target price on shares of Fortress Biotech in a research report on Monday, February 23rd. Finally, Zacks Research cut shares of Fortress Biotech from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $17.00.

Fortress Biotech Company Profile

Fortress Biotech, Inc is a clinical‐stage biopharmaceutical company focused on acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Headquartered in New York, the company operates through a network of majority‐owned subsidiaries that target areas of high unmet medical need, including oncology, rare diseases and dermatology. Fortress Biotech's business model emphasizes in‐licensing or acquiring promising drug candidates and coordinating their development through specialized affiliate companies, allowing for flexible capital allocation and focused management of individual programs.

Through its portfolio of subsidiaries, Fortress Biotech advances a diversified pipeline spanning small molecules, biologics and cell therapies.

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