-$0.46 Earnings Per Share Expected for Fortress Biotech (NASDAQ:FBIO) This Quarter

Wall Street brokerages expect Fortress Biotech (NASDAQ:FBIO) to announce ($0.46) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Fortress Biotech’s earnings. The lowest EPS estimate is ($0.54) and the highest is ($0.37). Fortress Biotech posted earnings of ($0.37) per share during the same quarter last year, which indicates a negative year over year growth rate of 24.3%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 8th.

On average, 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 year, analysts anticipate that the firm will post earnings of ($1.75) per share, with EPS estimates ranging from ($2.36) to ($1.13). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Fortress Biotech.

Fortress Biotech (NASDAQ:FBIO) last issued its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.22. The company had revenue of $9.25 million for the quarter, compared to analysts’ expectations of $7.51 million.

Several research firms have recently issued reports on FBIO. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Fortress Biotech in a research report on Monday, May 13th. Zacks Investment Research cut Fortress Biotech from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. ValuEngine raised Fortress Biotech from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Roth Capital began coverage on Fortress Biotech in a research report on Monday, July 1st. They set a “buy” rating and a $4.00 price objective for the company.

Shares of NASDAQ:FBIO traded up $0.02 on Tuesday, hitting $1.34. 250,266 shares of the company’s stock were exchanged, compared to its average volume of 278,908. The stock’s 50-day moving average is $1.46. Fortress Biotech has a 1-year low of $0.49 and a 1-year high of $2.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.78 and a current ratio of 2.79.

Several large investors have recently added to or reduced their stakes in FBIO. Two Sigma Investments LP boosted its position in shares of Fortress Biotech by 96.5% during the 4th 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 in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in shares of Fortress Biotech during the 2nd quarter worth about $34,000. Dowling & Yahnke LLC acquired a new position in shares of Fortress Biotech during the 1st quarter worth about $36,000. National Asset Management Inc. boosted its position in shares of Fortress Biotech by 18.4% during the 1st 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 in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Fortress Biotech during the 2nd quarter worth about $202,000. 12.92% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Cryptocurrencies

Get a free copy of the Zacks research report on Fortress Biotech (FBIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Fortress Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Biotech and related companies with MarketBeat.com's FREE daily email newsletter.