Fortress Biotech (NASDAQ:FBIO) Posts Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Fortress Biotech beat quarterly earnings expectations: The company reported an adjusted loss of $0.08 per share, $0.12 better than the consensus estimate, while revenue of $18.72 million also exceeded analysts’ $18.30 million forecast.
• Shares rose during Thursday trading to $2.98, giving Fortress Biotech a market capitalization of approximately $99 million. The stock remains below its 12-month high of $4.53 but above its low of $1.91.
• Analyst sentiment remains mixed: Ratings include two Buys, one Hold and one Sell, resulting in an overall “Hold” consensus despite a $17.00 average price target. Institutional investors own 96.51% of the company’s outstanding shares.

Fortress Biotech (NASDAQ:FBIO - Get Free Report) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12, FiscalAI reports. The company had revenue of $18.72 million for the quarter, compared to analyst estimates of $18.30 million. Fortress Biotech had a return on equity of 109.66% and a net margin of 193.12%.

Fortress Biotech Price Performance

FBIO traded up $0.23 during trading on Thursday, hitting $2.98. The company's stock had a trading volume of 1,394,060 shares, compared to its average volume of 714,847. The company has a quick ratio of 2.77, a current ratio of 2.86 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $99.00 million, a price-to-earnings ratio of 0.94 and a beta of 1.21. The firm's 50 day moving average price is $3.06 and its two-hundred day moving average price is $2.94. Fortress Biotech has a 12 month low of $1.91 and a 12 month high of $4.53.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBIO. Wall Street Zen raised shares of Fortress Biotech from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 24th. Weiss Ratings reissued a "sell (d)" rating on shares of Fortress Biotech in a research report on Wednesday, July 8th. Finally, Citigroup restated a "buy" rating on shares of Fortress Biotech in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Fortress Biotech by 923.3% in the 3rd quarter. Bank of America Corp DE now owns 7,122 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 6,426 shares in the last quarter. Visionary Wealth Advisors bought a new stake in shares of Fortress Biotech during the fourth quarter valued at approximately $41,000. XTX Topco Ltd acquired a new stake in shares of Fortress Biotech in the fourth quarter valued at approximately $53,000. Scientech Research LLC acquired a new stake in shares of Fortress Biotech in the third quarter valued at approximately $67,000. Finally, Osaic Holdings Inc. raised its position 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 purchasing an additional 5,034 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

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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